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