Coffee price formed some corrective bullish movements, returning to retest the broken support level, which is currently acting as a strong resistance barrier at 276.00. The price is stabilizing below this level, confirming its continued commitment to the previously suggested bearish path.
The price currently needs fresh negative momentum to facilitate its decline below the 256.10 level soon. Afterwards, it may begin targeting new bearish stations, starting from 233.80 and extending toward the next support level located near 220.00.
The expected trading range for today is between 233.80 and 271.00
Trend forecast: Bearish
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