Coffee prices have shown resilience against stochastic negativity, maintaining consolidation above the $244.30 level. This stability within the bullish channel has facilitated a renewed positive movement, with prices currently hovering around $249.25.
To continue this upward momentum, it is crucial for the price to build sufficient positive momentum to overcome the resistance at $254.80. Successfully surpassing this level could pave the way for further gains, potentially targeting $263.25 and eventually reaching the bullish channel’s resistance line at $276.00.
Today’s expected trading range is between $242.00 for support and $263.25 for resistance.
Trend Forecast: Bullish
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