COFFEE Futures closed lower on Thursday as it extends the decline off July's high. The lowrange close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signalling that additional weakness is possible. If it extends the decline off July's high, the reaction low crossing is the next downside target. Closes above the 20day moving average crossing would temper the nearterm bearish outlook.
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