Coffee closed lower on Tuesday as it extends last week's decline below the 20-day moving average crossing. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends this month's decline, the reaction low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the bearish outlook.
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