Coffee - Daily technical Forecast

By IBTimes Staff Reporter | June 13 2010 11:26 PM

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Coffee closed sharply higher on Friday and above the upper boundary of this year's trading range crossing. The mid-range close sets the stage for a steady opening on Monday. Stochastics and the RSI are turning bullish signalling that sideways to higher prices are possible near-term. If it extends Friday's rally, January's high crossing is the next upside target. Closes below 20-day moving average crossing would confirm that a short-term top has been posted.

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