Coffee closed lower on Wednesday as it consolidates below the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends Monday's decline, the reaction low crossing is the next downside target. Closes above the reaction high crossing are needed to renew the rally off April's low.
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