Coffee - Daily technical Forecast

By IBTimes Staff Reporter | February 25 2010 10:37 AM

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Coffee closed slightly lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI have turned bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, this month's low crossing is the next downside target. Closes above last Friday's high crossing are needed to renew the rally off this month's low.

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