NY 2nd Month Sugar Futures
NY sugar futures edged higher on Tuesday, closing at 17.96 as the contract attempts to stabilise above the psychological 17.70 level. The move brought prices back above the 10 DMA (17.79), but the contract remains below both the 40 DMA (18.59) and the 100 DMA (18.54), which continue to cap upside potential. Stochastics have turned higher from oversold territory (%K at 27.88), suggesting bearish momentum is softening. Meanwhile, MACD diff remains negative but is beginning to converge, further indicating the potential for near-term consolidation. A close above 18.00 would reinforce the recovery and open the path toward resistance at 18.77 and 19.21. On the downside, failure to hold above 17.70 would expose the market to a retest of the recent low at 17.39, with further support at 16.64. While the broader trend remains soft, short-term momentum signals are improving, offering scope for consolidation if prices can reclaim key moving averages.
Ldn 2nd Month Sugar Futures
London sugar futures rebounded on Tuesday, settling at 498.00 after finding support near the critical 480.00 area. The contract remains below all key moving averages, with the 10 DMA at 500.83, the 40 DMA at 520.25, and the 100 DMA at 516.73—all acting as resistance zones. Despite the broader bearish structure, Tuesday’s gain offers a tentative sign of stabilisation, particularly as stochastics begin to turn higher from oversold territory (%K at 19.61). MACD diff remains firmly negative but is flattening slightly, suggesting downside pressure may be easing. A close above 500.00 would be the first sign of a potential recovery, opening the way for a test of resistance at 512.60 and 519.00. On the downside, a break back below 493.80 would bring 480.00 and the January low of 464.00 back into view. For now, momentum remains fragile, but early signs of a bottoming attempt are emerging, pending confirmation through higher closes and improving indicators.
NY 2nd Month Coffee Futures
NY coffee futures extended gains on Tuesday, closing at 372.75 after climbing above the 10 DMA (358.65) and the 100 DMA (356.77). The move reinforces the short-term recovery from earlier lows near 347.73 and positions the contract just below the 40 DMA at 376.44, which now acts as immediate resistance. Stochastics have risen sharply (%K at 75.32), approaching overbought territory, suggesting strong upward momentum, although a pause could emerge near key resistance. MACD diff has flipped positive and continues to widen, confirming the bullish shift in momentum. A sustained break above 376.44 would open the path toward 381.40, with further resistance at 400. On the downside, initial support now stands at the 10 DMA, followed by the 100 DMA near 356. A close below 347.73 would negate the current recovery and expose the 317.30–304.00 region. For now, bullish momentum is building, but follow-through above the 40 DMA will be key for validating further upside potential.
Ldn 2nd Month Coffee Futures
London coffee futures eased modestly on Tuesday, settling at 5257 after failing to hold above the 40 DMA at 5354. The contract remains within a fragile recovery phase after rebounding from recent lows near 4664. Price action is now sandwiched between the 10 DMA (5083) and the 40 DMA, with the 100 DMA (5304) adding to the resistance cluster. Stochastics remain elevated (%K at 76.56) but have started to flatten, suggesting that bullish momentum may be slowing as prices approach overhead resistance. Meanwhile, MACD diff remains positive and continues to widen, indicating a constructive momentum backdrop despite the pause. A break above 5354 would reinforce bullish conviction and open the way toward 5569. On the downside, a close below 5080 would shift focus back to support at 4800, with a key floor at 4664. While the trend remains cautious, recent gains are encouraging and further upside remains possible if prices can break decisively above the 40 and 100 DMAs.
NY 2nd Month Cocoa Futures
NY cocoa futures surged on Tuesday, closing at 9117 after breaking decisively above the 200 DMA at 8370 and the 10 DMA at 8276. The strong move marks a clear departure from the recent consolidation zone, signalling improving sentiment and triggering a test of resistance in the 9542–9628 region. The contract is now trading well above short- and medium-term moving averages, with the 40 DMA at 8307 offering newly established support. Stochastics continue to rise (%K at 65.11), reinforcing bullish momentum, while the MACD diff has turned sharply higher and remains in positive convergence territory. A sustained hold above 9000 would further validate the breakout and set sights on the 38.2% retracement of the December–March decline at 9628, followed by 10779. On the downside, initial support is now seen at 8700, with stronger backing at 8370. Overall, the momentum shift suggests growing upside potential, contingent on continued follow-through above key resistance.
Ldn 2nd Month Cocoa Futures
London cocoa futures extended their recovery on Tuesday, closing at 6435 after climbing back above the 10 DMA (6019) and the 40 DMA (6381). The rebound from last week’s low is gaining traction, with momentum indicators turning increasingly supportive—stochastics have crossed above 50 (%K at 51.02), while the MACD diff continues to converge toward neutral. The move places futures within striking distance of the 200 DMA at 6528, a key threshold that, if cleared, would open the door to further gains toward resistance at 6518 and 7348. Immediate support is now at 6019, with stronger support remaining at 5359 and 4938. While the broader trend remains vulnerable, Tuesday’s close above the short-term averages and growing momentum suggest that a base may be forming. A confirmed break above the 200 DMA would strengthen the bullish case and potentially reverse the recent downtrend.
