Technical Analysis: US Coffee

Posted by: : Paul EbelingPosted on: September 4, 2014 Technical Analysis: US Coffee

Technical Analysis: US Coffee

US Coffee CFD closed lower Wednesday on profit taking.

The low range close set the stage for a steady to lower opening Thursday.

Stochastics and the RSI are overbought and are turning Neutral to Bearish indicating that a short term top might be in or close.

Closes below the 20-Day MA crossing are needed to confirm that a short term top is in. If US Coffee extends the rally off of its August low, the August high crossing is the next Northside target.

Stay tuned…

HeffX-LTN

Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.
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