Coffee price postpones the decline – Analysis – 5-8-2022

Coffee price formed correctional bullish wave recently, affected by stochastic rally above 50 level, to postpone the negative attack and approach the moving average 55 at 220.00.

We remind you that the main stability within the bearish channel forms the major factor to suggest the negative trades for the upcoming trades, to keep waiting to gather the negative momentum and repeat the pressure on 203.80, while breaking it will extend trades towards the main negative stations at 198.00 followed by reaching the additional support at 191.10.

The expected trading range for today is between 225.00 and 203.80

Open Live Trading Account

The expected trend for today: Bearish