Scenario 1: Strong Negative Pressure
If the coffee price fails to maintain its position above the bullish channel’s resistance line at 227.90, this could trigger new contract openings characterized by strong negativity. Such a scenario may lead to a significant downward movement, targeting the MA55 at 194.70.
Scenario 2: Bearish Momentum
In the event of continued stability below the additional barrier at 210.80, coupled with sustained negative momentum supported by stochastic indicators, a bearish trend is anticipated for both near-term and medium-term trades. Potential losses are expected to extend towards levels at 186.45 and 177.10.
Trading Range
The expected trading range for today is forecasted to be between 204.20 and 186.45, reflecting the prevailing bearish sentiment in the market.