Coffee closed higher on Monday and above the 10-day moving average crossing tempering the near-term friendly outlook. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it renews last week's rally, the reaction high crossing is the next upside target. If it renews this winter's decline, the 75% retracement level of the July-December rally crossing is the next downside target.
Join the Discussion