Coffee Technical Daily Outlook 9/18

By Roger Baettig | September 18 2012 4:05 AM

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COFFEE Futures close lower on Monday as it consolidated some of this month's rally. The lowrange close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm. If it extends this month's rally, July's high crossing is the next upside target. Closes below the 20day moving average crossing would confirm that a shortterm top has been posted.

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