COFFEE Futures close higher on Monday as it consolidates some of the decline off July's high. The midrange close sets the stage for a steady opening on Tuesday. 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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