Credit: Shutterstock photo
Coffee closed lower on Wednesday as it consolidates below the 20-day moving average crossing. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends Monday's decline, the reaction low crossing is the next downside target. Closes above the reaction high crossing are needed to renew the rally off April's low.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
