NY 2nd Month Sugar Futures
NY sugar futures softened on Tuesday, closing at 14.75 after failing to hold above the 10 DMA at 15.31. The 40 DMA at 16.14 and 100 DMA at 16.61 continue to edge lower, maintaining the broader bearish structure. The stochastics are deeply oversold, with %K at 14.22 and %D at 17.91, suggesting the market may be due for short-term stabilisation. However, the MACD diff remains negative and diverging, signalling sustained downside momentum. A close below 14.70 would confirm the continuation of the bearish trend towards 14.00, while a move above the 10 DMA is required to neutralise the weakness. The near-term outlook remains soft.
Ldn 2nd Month Sugar Futures
London sugar futures fell sharply on Tuesday to close at 431.10, extending losses below the 10 DMA at 442.18 and approaching key support at 429.90. The 40 DMA at 456.40 and 100 DMA at 463.21 continue to trend lower, reaffirming the prevailing downtrend. The stochastics are deeply oversold, with %K at 17.21 and %D at 21.74, suggesting potential for near-term stabilisation. The MACD diff remains negative and diverging at -1.34, confirming persistent downward pressure. A close below 430 would expose further downside towards 420, while recovery above 442 is needed to ease the weakness. Near-term tone remains bearish, though oversold signals hint at possible consolidation.
NY 2nd Month Coffee Futures
Arabica futures strengthened on Tuesday, closing at 391.25 as prices extended gains above the 10 DMA at 372.64 and 40 DMA at 372.27. The stochastics are rising, with %K at 73.10 and %D at 63.35, confirming strong upside momentum. Meanwhile, the MACD diff is positive and diverging at 2.32, signalling further bullish pressure. To confirm continuation of the rally, futures need to close above resistance at 393.00, which could open the way towards 407.90. On the downside, a close below 372 would test the 100 DMA at 337.95. The indicators point to firm bullish momentum in the near term.
Ldn 2nd Month Coffee Futures
Robusta coffee futures edged higher on Tuesday to close at 4199, with prices holding just above the 10 DMA at 4183 but still capped by the 40 DMA at 4788. The broader downtrend remains intact beneath the descending trendline from March highs. Stochastics are rising, with %K at 35.41 and %D at 26.38, indicating early signs of recovery momentum. Meanwhile, the MACD diff remains negative at -7.18 but is converging, pointing to fading downside momentum. A close above 4296 would signal potential to retest 4698, while a drop below 4100 would renew pressure on the downside. The tone is cautiously constructive, pending a break of the 40 DMA to confirm a shift.
NY 2nd Month Cocoa Futures
NY cocoa futures held steady on Tuesday, closing at 5962 as the market consolidated below the 10 DMA at 5950. The 40 DMA at 6876 and 200 DMA at 8524 continue to slope lower, confirming the longer-term downtrend. The stochastics are rising, with %K at 37.20 and %D at 28.42, suggesting improving momentum. The MACD diff has turned positive at 16.20, with the lines converging, indicating the potential for stabilisation. To confirm upside traction, futures need to close above 6210, which would pave the way for 6720. Conversely, a close below 5900 would signal renewed weakness. Indicators show tentative recovery signs, though broader momentum remains capped below the 40 DMA.
Ldn 2nd Month Cocoa Futures
London cocoa futures edged slightly higher on Tuesday to close at 4574, maintaining gains above the 10 DMA at 4473 and the 40 DMA at 4445. The 100 DMA at 4030 continues to rise, underscoring a medium-term recovery bias. Stochastics remain in positive territory, with %K at 72.42 and %D at 67.20, suggesting sustained upside momentum. The MACD diff is positive and stable at 9.54, confirming bullish trend persistence. Resistance at 4664 remains key; a close above this would target the broader resistance at 5369, while a fall below 4338 would signal short-term exhaustion. The market retains a firm tone above the 10 DMA, with momentum indicators supportive of further gains.
