NY 2nd Month Sugar Futures
NY sugar futures softened slightly on Tuesday, closing at 14.02. The stochastics remain deeply oversold, with %K below %D, indicating that downside momentum persists though conditions are stretched. The MACD diff is negative but converging, suggesting the pace of decline may be easing. Price action remains firmly below the 10 DMA at 14.74, 40 DMA at 15.81, and 100 DMA at 16.48, reinforcing the dominant downtrend. A close below 14.00 would confirm continuation of the decline, opening the path toward the 13.50 area. On the upside, a recovery above the 10 DMA at 14.74 is needed to ease near-term pressure, with stronger resistance located at 15.62. For now, the market remains oversold yet heavy, with early signs of momentum stabilisation but no confirmation of reversal.
Ldn 2nd Month Sugar Futures
London sugar futures extended losses on Tuesday, closing at 411.50. The stochastics remain in deeply oversold territory, with %K/%D continuing to fall, confirming persistent downside momentum. The MACD diff is negative and diverging, reinforcing the strength of the current bearish tone. Price action remains firmly below the 10 DMA at 430.43, 40 DMA at 449.34, and 100 DMA at 461.09, consolidating the broader downtrend. To confirm a continuation of weakness, futures would need to close below the recent low of 410.70, opening the way toward the psychological 400 level. On the upside, a recovery above the 10 DMA at 430.43 would be required to signal the first sign of stabilisation, with the next resistance at 434.30.
For now, the technical structure remains decisively bearish, and further declines look likely unless prices reclaim the short-term averages.
NY 2nd Month Coffee Futures
NY coffee futures fell sharply on Tuesday, closing at 366.00. The stochastics have rolled lower, with %K below %D, confirming weakening short-term momentum. The MACD diff has turned slightly negative, reflecting a loss of upward strength after recent consolidation. Price action has slipped below both the 10 DMA at 380.33 and the 40 DMA at 372.64, though it remains above the 100 DMA at 339.80, leaving the broader tone neutral to slightly negative. A close back above 380.33 is required to restore bullish momentum, with resistance layered at 393.01 and 407.90. On the downside, sustained trade below 372.64 would expose the 100 DMA at 339.80, a key support area. Overall, the tone has turned cautious, with momentum softening and recent losses threatening to erode the medium-term constructive bias.
Ldn 2nd Month Coffee Futures
London coffee futures edged higher on Tuesday, closing at 4465. The stochastics are softening, with %K falling below %D, signalling fading upside momentum. The MACD diff is negative and flattening, indicating that the recent upward phase is losing strength after failing to sustain gains above resistance. Prices remain marginally below the 10 DMA at 4518 but above the 40 DMA at 4424 and 100 DMA at 4038, leaving the broader tone constructive but near-term direction uncertain. To confirm renewed strength, futures must break above resistance at 4664, which would open a move towards 5000. Conversely, a close below 4338 would weaken the short-term outlook and expose the 100 DMA at 4038. For now, futures remain rangebound between 4338 and 4664, with momentum indicators hinting at consolidation rather than a decisive breakout.
NY 2nd Month Cocoa Futures
NY cocoa futures slipped on Tuesday, closing at 6027. The stochastics are rising modestly, with %K above %D, indicating that short-term momentum remains constructive despite the pullback. The MACD diff is positive and diverging, suggesting underlying support persists. However, the broader structure remains capped by trend resistance, with prices still below the 10 DMA at 6113, 40 DMA at 6698, and 200 DMA at 8422. A break above 6210 is needed to reaffirm recovery potential and open the way toward 6720. Conversely, a close below 6000 would risk a return to the lower range near 5800.
While near-term momentum is stabilising, the broader downtrend remains dominant, and confirmation through a sustained move above short-term averages is still required.
Ldn 2nd Month Cocoa Futures
London cocoa futures softened on Tuesday, closing at 4292. The stochastics have turned lower, with %K now below %D, signalling that recent upward momentum is fading. The MACD diff is positive and diverging, suggesting that underlying buying pressure remains, though it is beginning to flatten. However, the broader downtrend remains intact, with prices still constrained below the 10 DMA at 4327, 40 DMA at 4684, and 200 DMA at 6131, keeping rallies capped. To shift the tone higher, futures would need to break above 4698, confirming a move toward 5359. On the downside, support at 4296, now being tested, remains pivotal; a close below this level would confirm a return to the broader bearish structure. Momentum is showing early signs of improvement, but the trend resistance remains dominant, requiring confirmation before a stronger upside case can develop.
