An uptrend will start as soon for coffee as the market rises above resistance level 120, which will be followed by moving up to resistance level 126 and 132.
In a Downtrend scenario the downtrend may be expected to continue, while the market is trading below resistance level 120, which will be followed by reaching support level 111 and if it keeps on moving down below that level, we may expect the market to reach support level 102.
Previous week coffee price forecast
Fundamental Analysis
The difference between supply and demand shows fair price at the level $155, but a new Covid wave and lockdowns increasing are creating downtrend pressure to $95.
Monthly Forecast
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.
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.
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