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Coffee prices continue to face downward pressure, retreating from the resistance at 164.70. The market has experienced significant losses, pushing the price toward the 146.00 mark. It’s worth noting that the stochastic indicator is moving towards oversold territory, which could intensify the negative pressures and increase the likelihood of breaking the support at 141.50. This could pave the way for a resumption of the bearish trend, with potential targets at 134.30 and 129.20.
Today’s Expected Trading Range: 151.40 – 134.30
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Today’s Trend Outlook: Bearish
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