Coffee price still bullish – Analysis – 14-3-2023

Coffee price traded below the MA50 again, settled at 183.60, affected by stochastic exit from the overbought areas, suffering some losses by reaching 173.00.

Note that the main stability within the minor bullish channel that appears on the chart in addition to 163.40 level forming additional support confirm the continuation of the positivity for the upcoming period, therefore, we will keep waiting to gather the positive momentum again, to ease the mission of recording some gains by rallying towards 189.60 followed by reaching 201.10 as a first main target for the bullish track.

The expected trading range for today is between 172.00 and 189.60

The expected trend for today: Bullish