Coffee Technical Analysis

By Roger Baettig | May 22 2012 4:09 AM

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COFFEE Futures close lower on Monday and the lowrange close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher 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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