Coffee closed higher on Monday and above December's high crossing as it extended last Friday's rally. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, the 50% retracement level of the 2008-9-decline 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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