Coffee closed higher due to short covering on Thursday as it consolidated some of its losses off last week's decline. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term.
Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted. If it extends this year's rally, monthly resistance crossing is the next upside target.