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Coffee prices have recently experienced a bearish correction due to a decline in stochastic levels below 50, resulting in a drop to around 230.00. However, prices have begun forming positive waves and are currently stabilizing near 239.10. The primary bullish channel on the chart, along with the solid support level at 223.40, supports a bullish outlook. We anticipate a potential rise towards the 244.45 barrier; surpassing this level could lead to significant gains, potentially reaching 255.40 and 263.40 in the near to medium term.
The expected trading range for today is between 232.20 and 244.45.
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