Coffee price suffers big losses – Analysis – 28-10-2022

Coffee price faced strong negative pressures due to the major indicators that provide the negative momentum, to notice crawling below 186.50 level, which formed the extension of the minor bearish channel’s support line, to move into new bearish track by reaching 177.85.

We will depend on 196.40 level forming the major barrier in addition to the continuous negative momentum to confirm targeting new negative stations that might start at 165.60 and 153.60.

The expected trading range for today is between 187.00 and 165.60

The expected trend for today: Bearish