Coffee price keeps the positivity – Analysis – 19-8-2020

Coffee contracts’ price kept its stability within the bullish range by bouncing positively above 111.40 support line, to notice recording some targets by moving towards 119.35, while the price faces 23.6% Fibonacci correction level that might block the bullish rally on the intraday basis until gathering new positive momentum.

Note that succeeding to hold above the current barrier will allow the price to continue rising to expect moving towards 123.30 followed by reaching the next main target at 130.00.

The expected trading range for today is between 114.80 and 123.30

The expected trend for today: Bullish