Coffee price leans above the moving average – Forecast today – 27-3-2024

Coffee Price Analysis

Coffee price ended the recent sideways trades by providing frequent closings within the bullish channel, depending on the MA55 that forms additional support at 181.35$, to notice the beginning of forming bullish waves and consolidating near 187.70$.

• Now, stochastic rally above 50 level will increase the chances of gathering the positive momentum, to expect resuming the bullish attack and target the first target at 196.50$ soon, followed by reaching 210.00$ in the medium-term period.

The expected trading range for today is between 184.20$ and 196.50$.

Trend forecast: Bullish