Coffee Futures ( KC1! ), H4 Potential for Bearish Drop

Title: Coffee Futures ( KC1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 174.35
Pivot: 163.80
Support: 154.30

Preferred case: Looking at the H4 chart, my overall bias for KC1! is bearish due to the current price being below the Ichimoku cloud , indicating a bearish market. If this bearish momentum continues, expect price to possibly continue heading towards the support at 154.30, where the previous swing low is.


Alternative scenario: Price may head back up to retest the pivot at 163.80 where the 50% Fibonacci line is.

Fundamentals: There are no major news.