Markets

Coffee - Daily technical Forecast

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Coffee closed lower due to profit taking on Thursday as it consolidates some of this month's rally. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signalling that additional gains are possible. If it extends the aforementioned rally, monthly resistance crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a top has been posted.

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.

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