The coffee price during the last period formed a strong bullish rush, bypassing the stable barrier at 176.30, to notice that it resumed the bullish attack and recorded great profits by reaching 208.80.
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| Coffee futures contracts record big profits |
We point out that the price formation yesterday of a price gap and its disposal of the stable obstacle at 194.00, this confirms its readiness to resume the bullish attack, to first target the 61.8% Fibonacci correction level, which is stable at 212.25, and by surpassing it, trading may extend towards 221.90 to constitute the main target for the current trading.
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