The price of coffee has once again experienced a series of negative closures, continuing its downward trend. It broke through the previously identified support level at 154.15, solidifying its adherence to the bearish outlook that had been previously indicated. This negative movement was further underscored by its recent dip below the 148.10 level. This drop signifies the potential for additional downward momentum, targeting several negative points. These could commence at 141.75 and potentially extend to reach a significant support level at 129.80, which remains a key anticipated target for ongoing trading.
The projected trading range for the current session is anticipated to be between 152.00 and 141.75, underscoring the ongoing bearish sentiment that’s prevailing.
Anticipated Trend for Today: Bearish
