NY 2nd Month Sugar Futures
NY sugar futures dipped slightly on Tuesday, closing at 16.83 (down 0.18) and printing a red candle after Monday’s bounce, though they managed to stay marginally above the 10-DMA at 16.60. The contract is still capped by the 40-DMA at 17.07 and the 100-DMA at 17.92, and it remains some distance below the psychological 18.00 level. Stochastics have surged out of oversold territory (%K at 67.1) and are starting to flatten, suggesting the immediate recovery is losing momentum. In the same vein, the MACD diff has nudged fractionally into positive territory, indicating that the bearish momentum evident since April is converging rather than deepening, but it has yet to turn decisively higher. A daily close above the 40-DMA would confirm that a short-term base has developed around last month’s 16.64 floor and would open the way towards 17.50-18.00. Conversely, a failure to hold above 16.64 would re-expose 16.00 and, beneath that, the September low at 15.70. Overall, the broader trend remains soft, but stabilising momentum indicators point to further consolidation while the market tests the nearby moving-average resistance band.
Ldn 2nd Month Sugar Futures
London sugar futures retreated on Tuesday, slipping to 466.0 and finishing the session with a small red candle. The market continues to sit beneath the 40-DMA at 471.3 and the 100-DMA at 497.3, but it is now virtually level with the 10-DMA (466.1), suggesting that the immediate down-trend is slowing. Stochastics have risen into neutral territory (%K at 62.0) and are beginning to flatten, implying that the brief recovery from last week’s 447.0 low is losing a little momentum. Even so, the MACD diff has turned positive for the first time since April, indicating that bearish pressure is converging rather than widening. A decisive close above the 40-DMA would confirm a base and open the way towards 493.8, then 519.0. Failure to hold the nearby 464.0 floor would re-expose 447.0 and 434.3. For the moment, stabilising momentum signals point to further consolidation while the market probes resistance just overhead.
NY 2nd Month Coffee Futures
NY arabica futures ticked higher on Tuesday, ending at 285.60 and snapping a five-day losing streak, though the move left prices pinned beneath the 10-DMA at 296.20 and well below the 40-DMA at 338.77 and the 100-DMA at 365.57. Stochastics remain deeply oversold (%K at 13.4) but have started to curl higher, indicating that the recent liquidation wave may be running out of steam. In the same vein, the MACD diff is still negative but has begun to converge, hinting that bearish momentum is flattening rather than accelerating. A decisive close above the 10-DMA would be the first sign that a base is forming, opening a path towards former support at 314.75 and, beyond that, the 40-DMA. Conversely, a break back below last week’s 280 area would reignite downside risk towards 260 and then the psychological 250 level. For now, the structure stays fragile, yet stabilising oscillators point to a period of sideways-to-firmer trade provided the 280 zone continues to hold.
Ldn 2nd Month Coffee Futures
London robusta futures inched up to settle at 3568 on Tuesday, posting a second consecutive green close but still trading under every key moving average. The 10-DMA at 3613 is the first obstacle, followed by the 40-DMA at 4242 and the 100-DMA at 4926. Stochastics are lifting from oversold ground (%K at 27.7) and remain pointed higher, hinting that the wash-out from mid-June may be easing. Consistent with this, the MACD diff has turned positive for the first time since early May, showing that negative momentum is beginning to flatten. A daily close above the 10-DMA would strengthen the case for a short-term base and target 3800 and then the former support at 4338. Should prices roll back below 3500, the downside would reopen towards the May trough at 3300 and the psychological 3000 mark. While the broader chart is still fragile, improving momentum suggests the likelihood of further sideways-to-firmer trade so long as the 3500 zone holds.
NY 2nd Month Cocoa Futures
NY cocoa futures slipped again on Tuesday, settling at 8090 and extending their retreat below all key moving averages: the 10-DMA at 8535, the 200-DMA at 8842 and the 40-DMA at 9140. Stochastics are oversold (%K at 21.5) and starting to flatten, suggesting that the recent decline may be nearing exhaustion, but the MACD diff remains wide at –75.4, showing that negative momentum is still significant even if it is no longer deepening. Immediate support lies at the 8000 area and then 7336; a break beneath these levels would confirm a downside continuation towards 6720. On the upside, a close back above the 10-DMA would signal early stabilisation, with further resistance clustered around the 8842-9140 region. While the medium-term picture is weak, oversold readings and a tentative loss of downside momentum increase the likelihood of near-term consolidation as the market gauges support just above 8000.
Ldn 2nd Month Cocoa Futures
London cocoa futures eased again on Tuesday, ending at 5397 and carving out a new seven-month low while remaining well beneath the 10-DMA at 5687, the 40-DMA at 6313 and the 200-DMA at 6760. Momentum remains negative: the MACD diff has widened to –38.2, showing that bearish pressure is still increasing, although stochastics are deeply oversold (%K at 18.0) and beginning to flatten, hinting that the pace of the decline could soon moderate. The market is hovering just above minor support at 5359; a clear break below would expose the psychological 5000 level and then the longer-term floor at 4489.9. On the upside, the 10-DMA is the first line of resistance; only a close back above that average would signal that a recovery phase is beginning, with scope towards 6000 and the 6518–6760 moving-average cluster. For now, the bias remains lower, but oversold oscillators warn that fresh selling may draw less follow-through unless support at 5359 gives way.
