Coffee price confirmed regaining the bullish bias by providing new positive close above the bullish channel’s support line at 168.00, to notice forming strong bullish rally and surpass the MA55 to settle near 178.95.
Note that stochastic rally towards the overbought areas will increase the chances of gathering the additional positive momentum, which eases the mission of achieving additional gains, to expect moving towards 183.80 followed by attacking 194.20 obstacle.
The expected trading range for today is between 174.00 and 183.90
The expected trend for today: Bullish