Coffee Technical Analysis

By Roger Baettig | May 10 2012 4:42 AM

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COFFEE Futures close lower on Wednesday and the highrange close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bearish signaling that sideways to lower prices are possible nearterm. If it extends 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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