NY 2nd Month Sugar Futures
NY sugar produced a red candle on Tuesday, slipping intraday after an early attempt higher but still settling at 16.48 – fractionally above Monday’s close and level with the 10-day moving average at 16.47. The setback highlights lingering overhead supply beneath the 40-DMA at 17.14 and the 100-DMA at 17.97. Short-term momentum is only tentatively improving: stochastics have edged into the low-30s from oversold territory, while the MACD histogram remains near the zero line, implying bearish pressure is flattening rather than reversing. Initial support sits at last week’s 16.05 low, reinforced by the horizontal 16.64 level; a daily close below would re-expose 16.00. Bulls still need a decisive break over the 40-DMA to confirm a base and open the way toward the psychological 18.00-cent area, but Tuesday’s red candle warns that rallies may continue to meet selling until that barrier is cleared.
Ldn 2nd Month Sugar Futures
London sugar futures slumped on Tuesday, sliding to 453.80 and printing a wide red candle that wiped out Monday’s tentative gains. The drop leaves the contract back under both the 10-DMA (465.00) and the long-watched 464.00 pivot, while the 40-DMA (473.79) and 100-DMA (499.40) continue to cap overhead. Volume spiked on the decline, underscoring fresh selling interest. Stochastics have rolled over from the high-40s, and the MACD histogram—still marginally positive—has begun to narrow, hinting that upward momentum is stalling. Unless prices can reclaim 464.00-465.00 quickly, the path of least resistance points to a retest of the recent 451.80 low, with a break there exposing the wider 440.00 zone. Only a close back above the 40-DMA would ease immediate pressure and shift the focus to resistance at 493.80 and 519.00.
NY 2nd Month Coffee Futures
NY coffee futures came under renewed pressure on Tuesday, settling at 291.95. The contract remains firmly beneath all key moving averages, with the 10-DMA at 311.36, the 40-DMA at 348.90 and the 100-DMA at 370.32 aligning as successive layers of resistance. Stochastics are still deeply oversold (%K at 10.85) and creeping sideways, hinting that downside momentum may be running into exhaustion, yet the MACD diff has drifted further into negative territory (-3.16) and is still edging lower, suggesting the underlying trend has not yet started to turn. Immediate support is the recent low around , followed by the lower channel line near . On the upside, a recovery through the psychological 300.00 area and, more importantly, a daily close back above the 10-DMA would be needed to signal the beginnings of basing and open the way for a retest of resistance at 314.75 and the early-June highs around . Until then, price action is likely to stay heavy, albeit with the potential for short, oversold bounces.
Ldn 2nd Month Coffee Futures
London coffee managed a modest uptick on Tuesday, finishing at 3 660 after two weeks of relentless losses. Even so, futures linger well below the downward-sloping 10-DMA (3 723), while the 40-DMA at 4 443 and the 100-DMA at 5 030 continue to weigh from above. Stochastics have turned up from the mid-teens (%K at 20.69), suggesting the recent selling burst may be losing steam, and the MACD diff has begun to converge, although it remains firmly negative (-10.46). A sustained push through the 10-DMA would be the first sign that near-term sentiment is stabilising, exposing resistance at 3 830 and then 4 338. Failure to build on Tuesday’s bounce would leave the contract vulnerable to renewed weakness back towards the recent 3 560 low, with little in the way of meaningful support before the 3 300–3 350 zone traced out in late-2023.
NY 2nd Month Cocoa Futures
NY cocoa futures plunged on Tuesday, closing at 8 317 and erasing the prior week’s recovery. The drop drags the market back under the 10-DMA at 8 738, the 40-DMA at 9 218 and, critically, the 200-DMA at 8 810, restoring a decisively negative moving-average configuration. Stochastics have rolled over from just above 50 to the mid-40s (%K at 45.22), while the MACD diff has widened again to -32.59, both pointing to reviving downward momentum. The next downside focus is the 8 000–7 900 congestion zone; a clear break would expose the more significant band of support around 7 336, followed by 6 720. To regain the initiative, bulls would need a rebound that re-establishes trade back above the 200-DMA and the short-term average cluster; absent that, rallies towards 8 800–8 900 are likely to meet renewed selling.
Ldn 2nd Month Cocoa Futures
London cocoa futures slipped back on Tuesday, settling at 5 670 and reversing much of last week’s late bounce. Prices are once again trading below the 10-DMA at 5 867, the 40-DMA at 6 454 and the 200-DMA at 6 739, leaving the broader bias pointing lower. Stochastics are meandering in the high-30s, lacking clear direction, and the MACD diff has started to widen again (-16.92), indicating that negative momentum is yet to abate. Initial support lies at 5 359; a daily close beneath this level would expose the December low at 4 489.87. On the upside, the market needs to reclaim 6 000 and the 10-DMA to suggest a near-term floor is forming; otherwise, further drift towards the lower support band cannot be ruled out.
