Coffee And Cocoa Weekly Forecasts

This/Next Week Forecast (November 9 - 13, 2020): Coffee

Uptrend scenario
An uptrend will start as soon as the market rises above resistance level 110, which will be followed by moving up to resistance level 120.
Downtrend scenario
An downtrend will start as soon as the market drops below support level 102.70, which will be followed by moving down to support level 95.

previous week coffee price forecast

Fundamental Analysis

Difference between supply and demand shows fair price at the level $155, but new covid wave and lockdown increasing creating downtrend pressure to $95.

Monthly Forecast: Coffee

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 110, which will be followed by moving up to resistance level 120 and if it keeps on moving up above that level, we may expect the market to reach resistance level 132.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 110, which will be followed by reaching support level 102.70 and 95.00.

 This/Next Week Forecast (November 9 - 13, 2020): Cocoa

Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 2410, which will be followed by reaching resistance level 2550 and if it keeps on moving up above that level, we may expect the market to reach resistance level 2665.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 2350, which will be followed by moving down to support level 2160.

previous week cocoa forecast chart

Fundamental Analysis

Difference between supply and demand shows fair price at the level 2160 and new covid wave and lockdown increasing creating additional downtrend pressure.

Monthly Forecast - Cocoa

Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 2410, which will be followed by moving up to resistance level 2550 and 2665.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 2410, which will be followed by reaching support level 2160.