Trading Forecast Coffee

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April 12, 2011 4:42 PM EST

HY Markets

 
Coffee closed slightly lower due to light profit taking on Monday as it consolidates some of the rally off last Tuesday's low. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends last week's rally, the reaction high crossing is the next upside target.

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