COFFEE traded at $148.02, 0.24% down since previous close. The Coffee crossed down the major benchmark level of $150 in last week amid slowing demand from U.S & European region. The prices may open flat on Monday against the steady USD ahead of the release of U.S inflation data due in this week. Also, an uncertain Fed monetary outlook & rising U.S-China trade woes affects the Brazilian Real (BRL) currency vis-à-vis Coffee prices; for the Brazilian farmers may fetch lesser profits while exporting the beans to U.S. Besides this, the change in weather conditions in Brazil affecting the output & supplies level makes the prices more volatile; since Brazil is a major producer of coffee beans. Selling pressure may be recommended for the day in Coffee

COPPER is trading at $8367.3, 0.17% up since previous close. A gap-up opening can be seen in copper prices on Monday amid soft USD as traders waits for the result of U.S CPI data release due on Wednesday. Last week, the rising tension between U.S & China after the former imposed export curbs on Chinese tech companies resulted into downside in copper; for China is a major consumer of base metals. Globally, uncertain FOMC monetary outlook in its upcoming meeting may remain vital for base metals since they are inversely corelated with USD. As seen in the chart, the Copper revered up after testing the cluster support & hence, indicates the chances of further upside. Buying may be initiated in the commodity if crosses the MA (10) & MA (20).
Resistance – $8255-$8294