Coffee closed higher on Wednesday and posted a new contract high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are diverging but turning neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends this winter's rally, monthly resistance crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a top has been posted.