Coffee - Daily technical Forecast

 @ibtimes on March 01 2010 10:40 AM

Coffee closed higher due to short covering on Friday as it consolidates above the 75% retracement level of the July-December rally crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the 87% retracement level of the July-December rally crossing is the next downside target.

Join the Discussion