NY 2nd Month Sugar Futures
NY sugar futures extended their losses on Tuesday, closing at 17.41 after failing to hold above the 17.70 support level. The contract remains under heavy pressure, firmly below all key moving averages, with the 10 DMA at 18.22 and the 100 DMA at 18.63 acting as nearby resistance. The 40 DMA at 18.77 adds to the bearish weight, capping any short-term upside attempts. Stochastics remain deeply oversold (%K at 6.04), suggesting the market is stretched to the downside, though not yet showing signs of a reversal. The MACD diff is still negative and declining, reinforcing the bearish bias. A break below the recent low at 17.39 could expose the market to further losses toward 16.64. On the upside, a close back above 18.00 would be needed to signal the potential for short-term stabilisation. Until then, the path of least resistance remains lower, with momentum indicators firmly bearish and price action pointing to continued weakness.
Ldn 2nd Month Sugar Futures
London sugar futures fell sharply on Tuesday, closing at $490.10 and marking a decisive break below the key support at $493.80. This bearish development reinforces the prevailing downtrend, with the contract now well below all major moving averages—the 10 DMA at $513.07, 40 DMA at $523.37, and 100 DMA at $518.46—all of which act as layered resistance. Stochastics remain extremely oversold (%K at 6.99), suggesting the market is approaching exhaustion, though no reversal signals have yet emerged. The MACD diff remains negative and widening, indicating that downside momentum is still building. A further decline could open the way toward $464.00 and potentially $450.00. Conversely, a close back above $493.80 would be the first indication of short-term stabilisation, with stronger resistance at $510.00 and $512.60. For now, the trend remains firmly negative, with little evidence of a near-term bottom forming.
NY 2nd Month Coffee Futures
NY coffee futures extended their rebound on Tuesday, closing at 367.15 and breaking above both the 200 DMA (353.85) and 100 DMA (353.86). The move reinforces the short-term recovery, as the contract begins to distance itself from recent lows and builds momentum toward the upper end of the recent consolidation channel. The 10 DMA at 357.52 now acts as nearby support, while resistance lies ahead at 371.00 and 381.40. Stochastics are rising sharply, with %K at 47.09 and crossing above %D, signalling a strengthening bullish bias. Meanwhile, the MACD diff remains negative but is narrowing, suggesting bearish momentum is weakening. A close above 371.00 would confirm the bullish continuation and open the path toward the upper resistance zone at 381.40. On the downside, failure to hold above the 100 and 200 DMAs would undermine the recovery and shift attention back to 347.73 and 317.30. For now, momentum is improving, and price action signals a constructive outlook in the near term.
Ldn 2nd Month Coffee Futures
London coffee futures gained further ground on Tuesday, settling at 5340 after a strong rebound that carried prices above the 200 DMA (5297). The contract also approached the 40 DMA (5384), now a key resistance level along with 5369. Tuesday’s move marks a decisive shift in tone following the bounce from recent lows near 4664. The 10 DMA at 5083 now acts as first support. Stochastics are rising toward neutral territory (%K at 59.70), indicating a strengthening recovery. The MACD diff has turned slightly positive for the first time since March, reinforcing the notion that downside momentum has stalled. A sustained close above 5384 would add conviction to the recovery and expose further resistance at 5569. On the downside, a failure to hold the 200 DMA could lead to renewed selling pressure, with support levels at 5083 and 4800. Overall, the tone has turned more constructive, with improving momentum and key resistance levels coming into focus.
NY 2nd Month Cocoa Futures
NY cocoa futures fell sharply on Tuesday, settling at 7926, down from the previous close of 8159. This marks a decisive rejection at the cluster of resistance formed by the 10 DMA (8346), 40 DMA (8412), and 200 DMA (8352). The close back below 8000 brings the downside bias back into focus. The stochastics are slipping again, with %K at 27.97, approaching oversold territory and pointing to renewed bearish momentum. Meanwhile, the MACD diff remains negative but flat, suggesting a lack of strong directional conviction for now. A break below 7926 would expose the recent lows at 7336, followed by the key support at 6720. On the upside, a recovery back above 8300 is needed to negate the bearish tilt and reestablish upward momentum. Until then, the bias remains fragile, with pressure building near the lower end of the recent range.
Ldn 2nd Month Cocoa Futures
London cocoa futures retreated on Tuesday, closing at 5805, down from Monday’s high of 5973. The contract failed to hold above the psychological 6000 level and remains capped by the 10 DMA (6170) and the 40 DMA (6513). This reinforces the prevailing bearish tone, as upside attempts continue to be sold into. Stochastics are pointing lower, with %K at 28.38, indicating fading upward momentum and a potential return toward oversold territory. The MACD diff is still negative and flat at -226.72, confirming a continued lack of bullish conviction. Support lies at 5359, with a break below this level likely to open the path to 4489.87. A close above 6000, followed by a decisive breach of the 10 and 40 DMAs, would be required to suggest a reversal of trend. For now, the outlook remains moderately bearish, with sellers still in control.
