Coffee price tests the support – Analysis – 9-9-2022

Coffee price faced strong negative pressures recently due to stochastic crawl towards the oversold aeras, to force it to suffer big losses by moving towards the key support 223.00, facing the extension of the moving average 55.

The upcoming scenario depends on the strength of the current support, to expect the beginning of forming bullish trades to target 233.00 level initially, while facing continuous negative pressures and declining below the current support will confirm moving to the bearish track again and force the price to suffer more losses by targeting 217.50 and 211.30 levels.

The expected trading range for today is between 222.00 and 233.00

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The expected trend for today: Bullish