Coffee Elliott Wave Analysis – Trading Lounge
Coffee Daily and H4 Chart Review

Coffee is undergoing a short-term retracement following its rally from April 2025. However, it remains within a larger bullish trend. The current pullback that began on April 29 may present another buying opportunity. As long as the 323.9 support level holds, further rallies remain the likely outcome.

Coffee Daily Chart Analysis
The broader trend shows coffee in a bullish impulsive structure that began in January 2023. Within this long-term uptrend, waves I and II have completed, and the market is currently in wave III. Inside wave III, sub-waves ((1)) through ((4)) are done, with price now working through ((5)).

From the April 2025 low, wave ((5)) started with a completed sub-wave (1) on April 29. The present retracement appears to be wave (2) of ((5)). Although wave (2) may extend slightly lower, it is expected to be followed by continued bullish movement in wave (3).

Coffee H4 Chart Analysis
On the 4-hour chart, wave (2) is unfolding and may extend into the 354–339 price zone. This is where it may complete and give way to the start of wave (3). Traders could look for buying setups if the price bounces off this zone or breaks above the top of wave (1). Provided the 323.9 level remains intact, the bullish structure stays valid and further upward movement is expected.

Technical Analyst: Sanmi Adeagbo

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