Coffee closed higher on Tuesday and the high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible near-term. Closes above the reaction high crossing are needed to that a short-term low has been posted. If it extends last week's decline, the 50% retracement level of June's rally crossing is the next downside target.
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