Coffee price seeks the positive momentum – Analysis – 21-4-2022

Coffee price returned to form temporary negative waves due to the lack of the positive momentum, to crawl below the moving average 55 and touch 217.00 level, while we will depend on the continuous support formed at 211.00 to increase the chances of renewing the bullish attempts in the near term period, to expect targeting 227.00 initially, followed by repeating the pressure on 237.00 barrier.

On the other hand, facing continuous negative pressures and crawling below 211.00 support will force it to suffer additional losses by moving towards 203.00 and 191.00 levels.

The expected trading range for today is between 215.00 and 227.00

The expected trend for today: Bullish