Coffee price returns to the negative track – Analysis – 8-3-2022
Economies.com
2022-03-08 04:12AM UTC
Coffee price faced strong negative pressures recently, to force it to move to the negative track by declining below 241.60 support line, to suffer big losses by moving towards 220.50.
The current negative stability below the moving average 55 that forms additional barrier at 236.10 allows us to wait to gather the additional negative momentum, to manage to continue forming negative trades and reach additional stations that might start at 211.20.
The expected trading range for today is between 232.00 and 211.20
The expected trend for today: Bearish
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