Coffee closed sharply higher due to short covering on Thursday and the high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, trading range resistance crossing is the next upside target. Closes below February's low crossing are needed to confirm a downside breakout of this spring's trading range.
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