Coffee Futures Under Pressure as Triangle Support Gets Tested

Traders should keep a close eye on Coffee, which has been locked in a well-defined symmetric triangle pattern since the end of January, marked with converging green trendlines. After a recent bounce off the upper boundary of the formation, price action has been steadily declining and is now pressing against the lower support line of the triangle.

Currently, the price is respecting this lower boundary, but pressure is building—and a breakout appears imminent. If a daily candle closes decisively below the lower green trendline, that would confirm a bearish breakout, triggering a strong sell signal. The first target for such a move would be the yellow horizontal support around $349.

Alternatively, a bounce off the lower line or a false breakout (a quick dip below followed by a sharp recovery) would present a solid opportunity to go long, with the upper green boundary serving as the initial target. All eyes are now on how price behaves at this key support area.

Source: https://www.axiory.com/analytics/technical-analysis/coffee-futures-under-pressure-as-triangle-support