Coffee closed lower due to profit taking on Monday but the high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible near-term. If it extends last week's decline, the 50% retracement level of June's rally crossing is the next downside target. Closes above the reaction high crossing would signal that a short-term low has been posted.
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