This/Next Week Forecast (November 23 – 27, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 120, which will be followed by moving up to resistance level 126 and 132.
Downtrend scenario
The downtrend may be expected to continue, while 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
Difference between supply and demand shows fair price at the level $155, but new covid wave and lockdown increasing creating downtrend pressure to $95.
Monthly Forecast
Uptrend scenario
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.
Downtrend scenario
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.
