Market Commentary Thursday 09 September 2010
 
 
COFFEE
 
Coffee closed higher on Wednesday as it extends this year's rally. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are bullish signalling that sideways to higher prices are possible near-term. If it extends this 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.