KC1! On the weekly chart, Coffee is forming a potential Double Top reversal pattern, with the range defined between $437.95, and $277.25 acting as the neckline/support.
A confirmed break below $277.25 would activate the pattern and project a measured move toward $197.45.
On the daily chart, however, price action allows for the anticipation of a bullish Shark pattern, projected to complete at $303.70 — above the Double Top neckline placed at $277.25.
This creates a clear structural dependency:
- The Double Top requires a breakdown below $277.25 to validate the reversal.
- The Bullish Shark may act as a trend-sustaining harmonic structure, supporting price before any test/break of that neckline.
As long as Coffee holds above $277.25, the broader uptrend remains structurally intact, and the bullish Shark scenario can prevent activation of the weekly reversal pattern. The loss of this level is what shifts the commodity from trend continuation into confirmed high-timeframe reversal dynamics.
Daily chart below...
Happy Day,
André Cardoso
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