Coffee closed sharply lower on Tuesday and below the 20-day moving average crossing confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are diverging and are turning neutral to bearish with today's decline signalling that sideways to lower prices are possible near-term. If it extends today's decline, the reaction low crossing is the next downside target.
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