Coffee price keeps the positivity – Analysis – 9-2-2024

Coffee price succeeded to face the temporary negative pressures recently, to keep its positive stability within the bullish channel and notice its fluctuation near 189.55 level now, taking advantage of the MA55 forming additional support by fluctuating near 177.30.

Note that stochastic rally above 50 level will provide the price with new positive momentum to manage to activate the bullish attack and repeat the attempt to press on 203.40 barrier, while surpassing it will push the price to record new gains by rallying towards 211.10 followed by reaching 227.00 in the medium term period.

The expected trading range for today is between 181.50 and 211.10

The expected trend for today: Bullish