Coffee price tends to resume the rise – Analysis – 21-2-2023
Economies.com
2023-02-21 05:40AM UTC
Coffee price continued to form positive trades, to notice the attempt to surpass the moving average 55 at 183.60 in order to resume the correctional rise for the near term and medium term period, while the current positivity is caused by 173.60 level forming additional support, besides stochastic attempt to crawl towards the overbought areas.
These factors allow us to suggest rallying towards 194.00 level soon, to form the next positive target, while surpassing it will increase the chances of testing the key resistance at 206.40.
The expected trading range for today is between 180.50 and 194.00
The expected trend for today: Bullish
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