Coffee Technical Analysis

By Roger Baettig | June 08 2012 3:54 AM

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COFFEE Futures close higher on Thursday and the highrange close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bearish signalling 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 20day moving average crossing are needed to confirm that a shortterm low has been posted.

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