Coffee Prices Signal Bearish Trend as Resistance Fails

Coffee prices recently faced a significant downturn as they failed to breach the resistance level at 160.00. The decline led coffee prices to reach 149.65, and they are now approaching additional support at 148.00.

Analysts suggest that coffee prices require a fresh negative momentum to break the current support. This would bolster the prospects of a further bearish trend. Initial targets for this potential decline are set at the 141.80 level, with the possibility of extending the bearish movement to the next major target at 134.30.

As per the current market sentiment, traders are advised to consider a trading range between 153.50 and 141.80, with a prevailing bearish trend anticipated for the day.