Coffee - technical Outlook

on January 26 2010 4:01 AM

Coffee closed lower on Monday and the low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, December's low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the near-term bearish outlook in the market.

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