NY 2nd Month Sugar Futures
NY sugar futures edged slightly higher on Tuesday, closing at 14.56 after intraday action failed to break above the 10 DMA at 14.50 with conviction. The stochastics are edging lower, with %K/%D falling towards the mid-range, and the MACD diff is marginally positive but converging, suggesting limited bullish appetite and a lack of momentum. To confirm the outlook for lower prices, futures need to close below trend support near 14.40, which could open a test of 14.00. On the upside, futures need to reclaim the 40 DMA at 14.48 and then 15.15 in order to tilt the bias back towards 15.62. Recent candles show muted bodies, highlighting the absence of directional conviction, and without a decisive break of nearby DMAs, the market is likely to remain contained in the near term.
Ldn 2nd Month Sugar Futures
Ldn sugar futures held their nerve on Tuesday as intraday trading saw prices close at 14.56. The stochastics are softening, with %K/%D edging sideways around the mid-range, and the MACD diff is slightly negative and converging, signalling waning bearish momentum rather than a decisive shift higher. To confirm an outlook for lower prices, futures need to close back below the 100 DMA at 15.15 and 40 DMA at 14.48, with a break targeting the 14.00 area. On the upside, prices must take out resistance at the 10 DMA at 14.50 and then the 15.62 level in order to confirm a more constructive recovery. A small-bodied candle with limited follow-through highlights market indecision below the medium-term DMAs, and without a clean break of support or resistance the near-term bias remains rangebound.
NY 2nd Month Coffee Futures
NY coffee futures stabilised on Tuesday, closing at 341.60 after holding support above the 314.75 level. The stochastics are rising, with %K/%D diverging on the upside out of oversold territory, and the MACD diff is negative but converging, signalling easing downside momentum. To confirm the outlook for higher prices, futures need to break above the resistance cluster of 358.62–368.53 (40 & 100 DMAs), which could then target 393.01. On the downside, a failure to hold above the 314.75 level could trigger a test of 300. Recent candles show tentative stability after a prolonged correction, and while the short-term signals point to a potential recovery, confirmation above the medium-term DMAs remains essential for unlocking further upside.
Ldn 2nd Month Coffee Futures
Ldn coffee futures edged higher on Tuesday, closing at 3953. The stochastics continue to rise, with %K/%D diverging on the upside out of oversold territory, while the MACD diff is negative but converging, reflecting an early shift away from the heavy bearish momentum seen in prior weeks. To confirm a bullish reversal, futures need to break above 40 DMA at 4104 and then the 10 DMA at 3941 on a closing basis, opening a test towards the 4338 resistance level. On the downside, confirmation of resistance at current levels could see prices retest the 3800–3700 band before the recent lows. A constructive candle and continued stabilisation above the recent trough suggests selling pressure is moderating, but the recovery is not yet fully endorsed by the longer-term DMAs.
NY 2nd Month Cocoa Futures
NY cocoa futures weakened sharply on Tuesday, closing at 5298 after rejecting upside attempts against the 5855 level. The stochastics are falling, with %K/%D rolling over from mid-range, and the MACD diff is negative and diverging, signalling growing selling pressure. To confirm the outlook for lower prices, futures need to break below 5000, which could set the scene for a retest of the 4924 low. On the upside, a close back above 5855 is required to neutralise the bearish bias before targeting the 6720 level. A long red candle reinforces the negative tone as futures failed to sustain above key DMAs, and with indicators turning lower, the near-term balance of risks remains to the downside.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures weakened on Tuesday, closing lower at 3839. The stochastics are falling, with %K/%D diverging lower towards oversold, and the MACD diff is negative and diverging, signalling renewed downside momentum. To confirm the bearish indicators, futures need to close below the recent lows around 3650, which would then open a move towards the broader support zone. On the upside, futures must reclaim the 10 DMA at 4199 and then the 40 DMA at 4154, with a break above 4296 required to neutralise the near-term bearish bias. A negative candle breaking beneath the short-term consolidation zone confirms fading appetite for rallies, and the indicators point to further weakness in the coming sessions unless prices reassert support above trend levels.
