Possible bearish continuation on Coffee

Coffee has been somewhat volatile for today, but there have been some trading opportunities around key levels on the 30 minute chart. At the beginning of the session, the price of coffee falls to the 121.50 level and rallies from that level to the 200 period exponential moving average (blue line) on this very same 30 minute chart, around the 124.94 level. Even though the price did not touch exactly the 200 EMA, we can see how it bounces back to the downside and it seems to continue with its bearish trend. The Stochastics are showing us that the bullish momentum seems to be losing strength and they are trying to head back to the downside. If the price continues falling, then it is possible for the 121.50 to become support again. But if it breaks the 121.50 to the downside, then the 119.60 zone may also become a good support for the commodity. If the price breaks above the 200 EMA, then its latest high around the 127.42 level could become resistance.