Coffee price keeps the negativity – Analysis

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Coffee Cash Contract (PEPPERSTONE:COFFEE)

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PEPPERSTONE:COFFEE Coffee Cash Contract

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Coffee price provided more negative closings by consolidating below 178.00 resistance, to start reacting to the major indicators by declining towards 159.40, expecting to continue forming negative crawl and attempt to touch 154.00, while breaking this obstacle will extend trades towards 147.10 to face the historical support that appears on the chart, assuring the importance of monitoring its behavior to manage to detect the next main trend.

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Coffee price crosses first target at 154.00.

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