Is the bullish run coming to an end? Coffee closed at $192.95 (-0.75%)

Though in the midst of an 11 day uptrend, gaining a total of 13.63%, ($24.6), Yesterday's session suggests run might be coming to an end — Arabica Coffee ended yesterday at $192.95 per pound following from closing Thursday at $194.4. Overall, this represents a loss of $1.45 or 0.75%.

Core Retail Sales in United States fell short of market expectations (-0.3%) with a reading of -0.8%, continuing the decline from the previous figure of 0%. United States Retail Sales fell short of the -0.4% projections, with new data of -1%.

Meanwhile, United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -307,600, while the previous figure was -321,500.

Yesterday's price action generated a Japanese candlestick pattern showing 'Bearish Harami' is a candlestick chart indicator used for detecting reversals within a prevailing bull trend. It is generally indicated by a small price decrease that's contained within a broader upward price movement and is commonly associated with a bullish trend coming to an end. Concerning technical analysis and more specifically, trend indicators, investors are seeking long positions as Coffee price action surged above +100 — a key CCI threshold indicating an imminent bullish trend. According to asset volatility analysis, the Coffee future's upper Bollinger Band® is at $194.94 which indicates a further downward move may follow.

Notwithstanding the Coffee future's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

The Coffee future's value drop coincided with the fact that Cocoa is down to $2,889, losing $26, after ending the previous session around $2,915.

Though Arabica Coffee has been dropping, other Softs have been performing better: Sugar improves 0.43% yesterday and closed at $23.39.

ICE Coffee has recovered 28.66% since descending to a significant low of $151.1 around 2 months ago.