Coffee price managed to shake off transient negative pressures and close higher above the initial support at $370.70, as the Stochastic exited oversold levels with the price marking some gains and settling near $390.0.
As the price is continuously exposed to positive pressures, it’ll reinforce the upward trend towards the $406 barrier, with a breach leading the way to $418.00 then $427.50.
Expected trading range today is between the $375.00 support and the $406.00 resistance.
Today’s price forecast: Bullish
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Silver price rose in latest intraday trading, boosted by trading alongside the upward trend line, with ongoing positive pressure due to trading above the 50-candle SMA, coupled with positive signals from the Stochastic.
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Ethereum price fell in latest intraday trading, hurt by negative signals from the Stochastic after it reached overbought levels, with ongoing negative pressure due to trading below the 50-candle SMA, while the price moves alongside the main downward trend line in the short term.
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Bitcoin price managed to recoup early losses in the intraday levels, but still suffers from negative pressure due to trading below the 50-candle SMA, as a negative divergence forms in the Stochastic with negative signals emerging from it, amid the dominance of the main downward trend in the short term.
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