Coffee prices have successfully closed positively above the $262.50 level, establishing additional support for bullish trading and achieving further gains by reaching $274.55.
As stochastic indicators approach overbought territory, the likelihood of gathering further positive momentum increases, reinforcing our bullish outlook. We anticipate targeting additional positive milestones at $279.20, followed by a reach towards the bullish channel’s resistance line at $286.60.
The expected trading range for today is between support at $265.00 and resistance at $279.20.
Trend Forecast: Bullish
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