Coffee Weekly Forecast, October 19 - 23

This/Next Week Forecast (October 19 - 23, 2020)

Uptrend scenario

An uptrend will start as soon, as the coffee market rises above resistance level 112.90, 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 coffee market to reach resistance level 132.

Downtrend scenario

A downtrend will start as soon, as the coffee market drops below support level 104, which will be followed by moving down to support level 95.

Previous week coffee price forecast

Fundamental Analysis

Difference between supply and demand showing a fair price at the level of $155.

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

Uptrend scenario

An uptrend will start as soon, as the coffee market rises above resistance level 119, which will be followed by moving up to resistance level 132 - 140.

Downtrend scenario

The downtrend may be expected to continue, while the coffee market is trading below resistance level 119, which will be followed by reaching support level 95 - 89.