Coffee Technical Analysis

By Roger Baettig | May 07 2012 3:47 AM

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COFFEE Futures close lower on Friday and the lowrange close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are turning neutral to bearish signalling that sideways to lower prices are possible nearterm. If it renews the decline off January's high, weekly support crossing is the next downside target. Closes above the reaction high crossing are needed to confirm that a shortterm low has been posted.

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