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