Coffee - Daily technical forecast

By IBTimes Staff Reporter | February 01 2010 4:29 AM

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Coffee closed lower on Friday and below November's low crossing. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.

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