Coffee closed higher due to short covering on Tuesday as it consolidates above the 62% retracement level of the July-December rally crossing. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are turning neutral signalling that sideways trading is possible near-term. If it extends this winter's decline, the 75% retracement level of the July-December rally crossing is the next downside target.
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