NY 2nd Month Sugar Futures
NY sugar futures edged lower on Tuesday, settling at 17.41, after briefly testing an intraday high of 17.72. The contract remains decisively below all major moving averages, with the 10 DMA at 17.77, the 40 DMA at 17.90, and the 100 DMA at 18.20, reinforcing the bearish outlook. Stochastics are once again approaching oversold territory, with %K falling to 21.49, suggesting downside momentum is building but nearing exhaustion. Meanwhile, the MACD diff is negative at -0.1205 and continues to widen modestly, indicating persistent bearish momentum. Support is seen near 17.20, with a break below that exposing the 16.64 floor. On the upside, a close back above the 10 DMA would be required to signal any stabilisation. Until then, the trend remains under pressure with technicals leaning bearish.
Ldn 2nd Month Sugar Futures
London sugar futures slipped on Tuesday, closing at 478.70. The market remains entrenched below key moving averages—10 DMA at 488.39, 40 DMA at 499.11, and 100 DMA at 507.17—which continue to cap upside efforts. Stochastics are soft but beginning to turn upward from oversold territory, with %K at 18.46, hinting at possible short-term stabilisation. The MACD diff remains slightly positive at 0.0663, though the histogram is flattening, indicating weak and unconvincing momentum. First resistance is at the 10 DMA, followed by 493.80, while support is seen at 464.00. Overall, the trend remains bearish, but short-term signals suggest the market may be trying to form a base.
NY 2nd Month Coffee Futures
NY coffee futures edged modestly higher on Tuesday, settling at 359.45 and halting the recent string of lower closes. Despite the uptick, the contract remains trapped below key moving averages, with the 10 DMA at 366.72, the 40 DMA at 374.05, and the 100 DMA at 371.68, all continuing to exert downward pressure. Momentum remains soft, with the MACD diff still negative at -2.62 and no clear signs of convergence emerging. Stochastics are also deeply subdued, with %K at 17.55, reflecting persistent oversold conditions and hinting at a possible technical base forming. Initial resistance stands at the 10 DMA, followed by the horizontal pivot at 381.40. On the downside, minor support lies near 350, with stronger demand likely around 340 and the lower bound of the wider ascending channel. For now, the bounce appears corrective rather than reversal, with bears still in control barring a close back above 374.
Ldn 2nd Month Coffee Futures
London coffee futures slipped on Tuesday, closing at 4692 and marking a fresh cycle low in the ongoing downtrend. The contract remains firmly under pressure, having decisively broken below the psychological 4700 level, and continues to trend beneath all key moving averages—10 DMA at 4902, 40 DMA at 5148, and 100 DMA at 5314—confirming the bearish structure. Momentum indicators show no sign of relief, with %K at 10.33 deep in oversold territory, while the MACD diff remains sharply negative at -37.83 and continues to widen. Immediate support now lies at 4664, a key horizontal level that, if broken, could open the path to 4338. Resistance starts at the 10 DMA, with a more significant hurdle around 4938. While technically stretched, the lack of reversal signals or divergence suggests downside risks persist, even if a short-term pause develops.
NY 2nd Month Cocoa Futures
NY cocoa futures edged slightly higher on Tuesday, settling at 9257 after a volatile session that saw prices test both the 9208 low and 9592 high. Despite the modest rebound, the contract remains below the 10 DMA at 9933, leaving the short-term tone fragile. However, it continues to hold above the 40 DMA at 8967, suggesting some underlying support remains intact. Stochastics are softening, with %K falling to 38.47, reflecting fading upward momentum following last week's reversal. MACD diff has turned negative at -56.65, reinforcing the shift toward consolidation. Immediate support lies near the 40 DMA at 8967, with further weakness exposing the 200 DMA at 8623. On the upside, the 10 DMA and the recent high at 10779 are the key levels to watch. While the broader uptrend remains intact, near-term signals warn of a potential pause or deeper pullback unless prices can reclaim the 10 DMA.
Ldn 2nd Month Cocoa Futures
London cocoa futures extended their decline on Tuesday, falling to 6520 and settling below the 10 DMA at 7083 for a second consecutive session. The contract held just above key support at 6518, but the broader technical picture remains under pressure. The 40 DMA at 6492 now stands as the next level to watch on the downside, while the 200 DMA overhead at 6636 adds to the resistance cluster. Stochastics continued to slide, with %K down to 34.36, pointing to growing downside momentum, and the MACD diff has turned negative at -38.06, reinforcing the bearish tone. Resistance is layered at the 10 DMA and the recent peak near 7348. Unless prices can reclaim the 10 DMA, bears may remain in control, with deeper retracement levels still in sight.
