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Coffee futures continued to trade under bearish pressure, confirming a sustained downtrend with the formation of successive lower highs. The 390.00 level has emerged as a strong resistance barrier, reinforcing the bearish sentiment after prices declined to 366.75 in recent sessions.
Technical indicators further support the negative outlook. The stochastic oscillator is nearing the 20 level, signaling additional downside momentum and suggesting a continuation of the bearish move in the short term.
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Outlook:
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Given the prevailing technical setup, further losses are likely, with potential downside targets at 358.00 and 345.00.
Expected Trading Range for Today: 358.00 – 381.00
Trend Forecast: Bearish
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