Coffee Weekly Forecast For Oct. 12-16

The Upcoming Week Forecast (October 12 - 16, 2020)

• Uptrend scenario: The uptrend may be expected to continue if the market trades above the support level of 108.5, which would be followed by reaching resistance level 114.4 and 120.
• Downtrend scenario: A downtrend may start as soon as the market drops below the support level of 108.5, which would be followed by moving down to support level 104. Additionally, if it keeps on moving down below that level, we may expect the market to reach support level 95.

Previous Week Coffee Price Forecast

Fundamental Analysis

The difference between supply and demand, as well as price, is illustrated at the $155 level.

Long-Term Forecast (Quarter III: July - September, 2020)

• Uptrend scenario: An uptrend may start as soon as the market rises above the resistance level of 119, which would be followed by a move up towards resistance level 132 - 140.
• Downtrend scenario: The downtrend may be expected to continue if the market trades below the resistance level of 119, which would be followed by reaching support level 95 - 89.