Coffee price gets the positive momentum – Analysis – 1-2-2024
Economies.com
2024-02-01 05:37AM UTC
Coffee price succeeded to face the temporary negative pressures by providing frequent closings within the bullish channel, to notice leaning above the MA55 at 176.50 and achieving some gains by reaching 197.00.
Also, stochastic rally above 50 level assists to provide the additional positive momentum, to ease the mission of resuming the bullish attack and expect targeting 211.00 level soon, while surpassing this obstacle will push the price to reach the bullish channel’s resistance at 228.50.
The expected trading range for today is between 187.20 and 211.00
The expected trend for today: Bullish
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