COFFEE could turn around big timePrice on COFFEE looks very interesting at the moment, this latest move broke the narrative of a downtrend.
The most recent interaction with the downtrend is particularly interesting, because it's already showing early signs of consolidation, decreased bearish momentum. What may follow: retest of trendline, low-volume candles suggesting exhaustion, all aligning for potential upwards.
My target would be toward 350$ where we have a clear zone. If this move plays out, it will make a beautiful switch of a narrative that’s we've been seeing for COFFEE. This is what makes the setup so compelling. It’s a "story being shown".
Though a scenario for more downside is possible. Still, I am taking the side for more upside because such decrease is not sustainable long without a correction.
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