Coffee closed higher due to short covering on Monday as it consolidated some of last Wednesday's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are turning neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends today's rally, June's high crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term top has been posted.
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