Coffee closed higher due to short covering on Tuesday as it consolidates above the 75% retracement level of the July-December rally crossing. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are diverging and are turning bullish signalling that a low might be in or is near. Closes above the 20-day moving average crossing are needed to confirm that a short-term low has been posted.