/  

Coffee closed higher on Monday as it extended this summer's rally. Profit taking tempered early session gains and the low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends 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.