Coffee completed a large triangle consolidation as wave Y of 4 in January 2023 and has since moved higher to test and break the triangle resistance-line near 250 and is now headed towards the next resistance at 300.
If this resistance is broken and I expect it will be broken then the next long-term stop is see at 576. We will see the former tops at 318 and 340 give some temporary protection, but they shouldn't anything other that temporary stops before the match higher towards 576 is seen.
That said, it's important what's gone happen near resistance at 300. If coffee fails to clear this resistance and starts to move lower again, we could see the the consolidation from 1977 continue for another 22 years as the final corrective wave "Z" unfolds. This is not my preferred count, but an option we can't exclude at this point in time.
The job is to find the possible future path for coffee, which for now is up towards 300 and then let's evaluate the most likely future price-action for coffee.
