Arabica Coffee dull so far today at $187.35, while in the midst of a bearish run

ICE Coffee has been losing ground for 3 days, shedding a total of 3.7% of its value. Today is looking a bit better: Arabica Coffee trades at $187.35 per pound, after ending Friday at $187.7.

United States Core Durable Goods Orders is next.

Coffee's upper Bollinger Band® is at $193.65, suggesting that a downward move may follow.

Despite the market lacking direction, technical chart analysis strongly suggests Coffee is positioned for a downward move in the near term.

Meanwhile, mixed performances are seen in other Softs as after ending Friday's session at $84.9, Cotton lost $1.08 and is trading around $83.82.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released today at 13:30 UTC. Today at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%. United States Consumer Confidence is projected to outperform its last figure with 108.5. It previously stood at 107.1; data will be released tomorrow at 15:00 UTC.

The commodity has been trending positively for about a month. After hitting an important low of $151.1 approximately a month ago, the Coffee future has bounced back 24.22% since.