Coffee price touches the target – Analysis – 27-5-2021

Coffee price resumed its bullish attack to notice touching the first main target at 155.90, noting that the current barrier forms 50% Fibonacci correction level and might force the price to provide some sideways trades until achieving the required breach to confirm the continuation of the positivity for the upcoming period.

In addition, we will depend on 144.40 level forming the additional support to expect getting positive momentum by stochastic and achieve the required breach to reach new positive stations that might start at 161.80 and 169.30.

The expected trading range for today is between 148.00 and 161.00

The expected trend for today: Bullish