Photo by Anastasiia Chepinska on Unsplash

Coffee prices are up by about 2% in the early European trading session as the market trades quite balanced on the daily interval while heading higher towards the upper bracket extreme to find potential selling. The market found support around the decade’s upper-value extreme and might establish a rotational scenario from the Year’s DVAL to the upper-value extreme. However, traders might lean on the extreme of the mentioned balanced price range in the summer months and inside of the current Quarter’s developing value area while targeting the Year’s VWAP above the swing highs for possible absorption purposes.

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The short-term to intraday perspective trades around the upper month’s value extreme where short traders might emerge as the level is confluent with a prior VWAP close level. Forecast calculations point to rising prices of the lower minus 1 standard deviation level, according to research papers and analysts' estimates. However, looking at the macrocycle, prices might have reached the peak to find macro-core sellers.

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