NY 2nd Month Sugar Futures
NY sugar closed sharply lower at 18.14, breaking key support at 18.98 and trading below all major moving averages. Momentum has turned bearish, with MACD negative and stochastics falling into oversold territory. If prices break below 18.00 today, this could trigger losses towards 17.71 and 16.64. On the upside, a recovery above 18.98 is needed to ease bearish pressure, with 19.21 as the next resistance. The bias remains to the downside unless bulls reclaim key levels.
Ldn 2nd Month Sugar Futures
Ldn sugar futures extended losses on Tuesday, settling at 511.10 after breaking below key support at 519.00. The move below the 10-, 40-, and 100-day moving averages (528.09, 526.50, and 521.35, respectively) reflects a deterioration in short-term momentum. Both MACD and stochastics signal further downside, with %K at 19.57 confirming oversold conditions and MACD diff firmly negative. Today, a sustained break below 510 could expose the market to deeper declines towards 493.80 and 464.00. Conversely, a recovery above 519 would be needed to stabilise sentiment, with stronger resistance awaiting at 528. Bears remain in control unless key levels are reclaimed.
NY 2nd Month Coffee Futures
NY coffee futures extended losses on Tuesday, closing at 341.35 and breaking below key support at 350. The drop marks a decisive move below the 100-day moving average (DMA), with prices now hovering just above the 200 DMA at 340.09. Momentum indicators remain weak—MACD is deeply negative, and stochastics are oversold but not yet turning, suggesting that bearish momentum is still in play. Today’s session will be crucial: a break below 340 could expose 317.30 and 304.00, both of which marked prior consolidation areas. On the upside, bulls would need to reclaim 350 to shift the tone, with the next key resistance around 371. For now, pressure remains to the downside unless support at the 200 DMA holds.
Ldn 2nd Month Coffee Futures
London coffee futures stabilised on Tuesday, closing at 4794 after a sharp two-day decline. Prices are now testing support just above 4664, following a steep drop through the 10-, 40-, and 100-day moving averages (5237–5282), all of which now act as resistance. Momentum remains firmly negative, with MACD deep in bearish territory and stochastics holding in oversold conditions, though %K has started to flatten. A break below 4664 today could trigger further losses towards 4500. To shift sentiment, bulls must reclaim 5000 and close above the 100 DMA. Until then, downside risks remain dominant, though extreme oversold signals hint at potential for a short-term rebound if support holds.
NY 2nd Month Cocoa Futures
NY cocoa futures sold off yesterday after investors rejected prices above 8000, prompting a close below the key support of 7800 at 7721. The stochastics are falling, with the %K/%D converging on the downside and approaching the oversold territory, suggesting a continuation of a negative trend. The MACD diff is negative and diverging, indicating improving sentiment on the downside. To confirm another bearish candle and the three black crows’ formation, prices need to break below the support level at 7336 before the 31.3% fib level at 7131. On the upside, to regain upside conviction, futures need to close back above 8000 and then target 10 DMA ay 8256 in the near term. Near-term momentum is on the downside; the close below 8000 confirms this trend.
Ldn 2nd Month Cocoa Futures
Ldn cocoa sold off yesterday, as protracted selling pressure triggered a breakthrough of the psychological 6000 support and closed on the back foot at 5779. The stochastics are falling, with %K entering the oversold territory, highlighting the recent selling pressure. The MACD diff is negative and diverging, suggesting increasing downside pressures; this could set the scene for lower prices towards the 5359 support level. A break below this would confirm the trend for falling prices, down to the 5000. On the upside, a resistance at 6000 is now strong, and a break above that level would strengthen the bullish momentum. This could also trigger gains back towards the 10 DMA level at 6270. A long candle body, along with a longer lower wick, points to a lack of strong appetite on the downside. However, with a breach of 6000, we expect the near-term momentum to remain moderately bearish.
