Coffee Prices Remain Bearish as Resistance Holds Firm

by Daisy

Coffee prices have struggled to gain momentum, failing to breach the resistance line at 236.40. Instead, a correctional bearish trend has emerged, leading to a dip to around 219.00, where prices have stabilized.

The persistent fluctuation below the current resistance level, coupled with stochastic indicators signaling negative momentum, suggests that the correctional bearish bias is likely to persist. Traders should anticipate the possibility of further losses, with potential downward targets at 210.50 and 203.00.


In terms of trading range, the expected range lies between 228.00 and 211.00, indicating continued volatility within these bounds.


Overall, the trend forecast for coffee prices remains bearish, reflecting the ongoing challenges in breaking through key resistance levels.

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