Expected Scenarios and Trading Range
Scenario 1: Strong Negative Pressure
- Coffee price fails to sustain above the bullish channel’s resistance line at 227.90.
- New contracts open with strong negativity, resulting in a strong negative attack towards the MA55 at 194.70.
Scenario 2: Bearish Momentum
- Frequent stability observed below the additional barrier at 210.80.
- Continuous negative momentum supported by stochastic indicators.
- Bearish scenario expected for near-term and medium-term trades, with potential losses extending towards 186.45 and 177.10 levels.
Trading Range
Expected range for today: 204.20 - 186.45
Trend forecast: Bearish