Price on Coffee began consolidating inside a rising wedge, showing controlled accumulation from buyers. Normally, a rising wedge hints at weakness, a signal that buyers are losing momentum.
But here’s the twist: instead of breaking down, price broke out upward with strong momentum.
That’s a sign of buyer dominance, what should’ve been a reversal turned into a breakout.
The upside target would be near 416.50, aligning with the next major resistance level.
As long as price holds above the breakout zone, the momentum remains bullish, with buyers driving this move forward.
But here’s the twist: instead of breaking down, price broke out upward with strong momentum.
That’s a sign of buyer dominance, what should’ve been a reversal turned into a breakout.
The upside target would be near 416.50, aligning with the next major resistance level.
As long as price holds above the breakout zone, the momentum remains bullish, with buyers driving this move forward.
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