NY 2nd Month Sugar Futures
NY sugar futures extended losses on Tuesday, settling at 17.53, their lowest close in over two weeks, as the market slipped further below the psychological 18.00 level. The contract remains decisively below all major moving averages, with the 10 DMA at 17.81 and the 100 DMA at 18.22 continuing to weigh on short-term sentiment. Stochastics remain in neutral territory, with %K at 43.82, suggesting there is still room to the downside before reaching oversold conditions. Meanwhile, the MACD diff remains marginally positive at 0.0313, but is flattening, pointing to a potential loss of bullish momentum without yet indicating a reversal. Immediate support lies near 17.20, followed by the longer-term floor at 16.64. A close back above the 10 DMA would be the first sign of stabilisation, with resistance layered at 18.00, then 19.21. For now, the trend remains soft, but technicals show early signs of deceleration.
Ldn 2nd Month Sugar Futures
London sugar futures slipped again on Tuesday, closing at 484.20 and extending their slide below the key 10 DMA at 489.37. Price action remains weak, with the contract also trading below the 40 DMA and 100 DMA (504.12 and 508.19, respectively), reinforcing the bearish tone. However, momentum indicators suggest the pace of the decline may be slowing—stochastics are neutral at 43.27, and the MACD diff is still positive at 0.9353 but flattening, pointing to waning upside traction. The market is again approaching the 464.00 support zone, which has served as a floor since early this year. A break below that level would expose deeper downside potential, while a recovery above the 10 DMA would be required to shift near-term momentum. With prices consolidating above key support but below major resistance, the market may be entering a period of sideways drift unless a clearer catalyst emerges.
NY 2nd Month Coffee Futures
NY coffee futures fell on Tuesday, closing at 367.25 and settling just above the 100 DMA at 369.94. Price remains capped by the 10 and 40 DMAs, at 375.59 and 376.22 respectively, keeping the short-term bias under pressure. The contract has now posted a series of lower highs and lower lows, suggesting the trend remains soft. Stochastics are edging lower in oversold territory, with %K at 21.53, which may imply the downside is becoming stretched. Meanwhile, the MACD diff is negative and continues to widen slightly, now at -2.455, indicating persistent bearish momentum. A break below the 100 DMA would open the path to further support near 340, while a recovery through the 10 DMA is needed to ease pressure and shift the tone back toward 381.40.
Ldn 2nd Month Coffee Futures
London coffee futures extended losses on Tuesday, closing at 4865 and marking a sharp decline below the 5000 psychological level. The contract is now trading well beneath all major moving averages, with the 10 DMA at 5130, the 40 DMA at 5249, and the 100 DMA at 5322, reflecting a clearly bearish structure. Stochastics remain deeply oversold, with %K at 15.13, hinting that prices may be nearing exhaustion to the downside. However, MACD diff remains firmly negative at -37.77, showing no sign yet of momentum abating. The next key support lies at 4664, followed by 4338. A close back above 4938 would be the first sign of potential stabilisation, but for now the trend remains under pressure with little indication of reversal.
NY 2nd Month Cocoa Futures
NY cocoa futures extended gains on Tuesday, closing at 10421 and marking a fresh multi-week high as the recovery rally continues to unfold. Prices remain firmly above all key moving averages, with the 10 DMA at 9742 and the 40 DMA at 8805 both offering underlying support. The contract is now approaching resistance at 10779, which capped the market in January. Stochastics are firmly overbought (%K at 86.62), suggesting that upside momentum may be nearing exhaustion and that a pause or consolidation could be likely near current levels. MACD diff remains positive and continues to widen, reinforcing the strength of the ongoing bullish momentum. A close above 10779 would open the door for a potential retest of the December highs. On the downside, failure to hold above 10000 could trigger a pullback toward the 10 DMA. For now, the uptrend remains intact but momentum is becoming stretched.
Ldn 2nd Month Cocoa Futures
London cocoa futures edged higher on Tuesday, closing at 7402 and notching a fresh high for the current leg higher. The contract has broken through the 7348 resistance level, with the next upside target seen near 7820. Prices continue to trade above all key moving averages, with the 10 DMA at 6998 and the 40 DMA at 6429 offering support on pullbacks. Stochastics remain deeply overbought (%K at 86.15), which may limit further upside in the near term and increase the likelihood of consolidation. MACD diff continues to rise, reflecting persistent bullish momentum, though not yet at an extreme. A close below 7348 would signal potential short-term fatigue and open the way for a correction toward the 10 DMA. While the broader recovery remains constructive, momentum indicators suggest some caution is warranted at these elevated levels.
