Coffee Mid Term Turns Bearish if 220 is broken

Coffee main trend remains up and mid term outlook is likely to remain sideways within window of time for price and time correction. Weekly chart shows coffee has formed a secondary top at 244.90 on January 19th and prices may enter second leg of correction with a break below swing low of 220.50 which also coincides with weekly middle Bollinger Band, resulting in deeper corrections towards 196 and 185

On the flip side, consolidation above 220 and 232 may help coffee resume its uptrend reaching 244 and recent top at 252 which is acceleration point and essential condition for extending the bullish streak with targets 263, 272 and 287