NY 2nd Month Sugar Futures
NY sugar futures stabilised on Tuesday after recent losses, with prices settling at 14.18. Futures continue to trade below the key moving averages, with the 10 DMA at 14.22, the 40 DMA at 14.44, and the 100 DMA at 14.80, keeping the broader technical structure bearish.
The stochastics are rising modestly but remain mid-range, suggesting limited upside momentum at current levels. The MACD diff remains negative, though flattening slightly, signalling that bearish momentum persists but is no longer accelerating.
To confirm a near-term recovery, futures need to reclaim resistance at 14.28, followed by a close above the 40 DMA. Failure to hold above 14.00 would refocus attention on the recent lows and keep downside risks in play. The near-term outlook remains cautiously weak while prices remain capped below the moving averages.
Ldn 2nd Month Sugar Futures
London sugar futures edged higher on Tuesday, closing at 421.60, as prices attempted to stabilise following the late-January sell-off. Futures are holding just above the 10 DMA at 417.29, though remain capped by the 40 DMA at 421.48 and the 100 DMA at 428.43, which continues to define the broader downtrend.
Stochastics remain subdued, with %K/%D soft and below mid-range, suggesting limited upside momentum for now. The MACD diff is negative and marginally diverging, indicating that selling pressure has eased but has not yet reversed decisively.
To confirm a more constructive near-term outlook, futures need to sustain a close above the 40 DMA and then challenge resistance towards the 430–435 region. Failure to hold above the 417–415 area would refocus attention on 411.60, with a break below this level exposing the 403.40 low. For now, momentum remains corrective rather than trend-reversing.v
NY 2nd Month Coffee Futures
NY coffee futures edged lower on Tuesday, closing at 300.90, following a sharp downside extension. Prices have broken below both the 10 DMA at 327.48 and the 40 DMA at 341.99, reinforcing the bearish trend structure.
The stochastics are deep in oversold territory, with %K/%D still falling, indicating strong downside momentum but also raising the risk of short-term stabilisation. The MACD diff is negative and diverging, confirming growing selling pressure and a lack of bullish confirmation. Immediate support sits at 300, with a decisive break exposing further downside risk. On the upside, futures would need to reclaim 327 and then the 40 DMA to signal any meaningful shift in sentiment.
For now, the technicals point to continued vulnerability despite oversold conditions.
Ldn 2nd Month Coffee Futures
London coffee futures weakened on Tuesday, closing sharply lower at 3719, reinforcing the fragile near-term structure after repeated failures above the 40 DMA at 3965. Prices have slipped back below the 10 DMA at 4051, while the 100 DMA at 4256 continues to cap any meaningful recovery.
Stochastics are rolling over, with %K/%D turning lower from mid-range, signalling renewed downside momentum. The MACD diff is negative and diverging, highlighting growing selling pressure following the January consolidation phase.
To confirm further downside, futures need to take out support at 3650, which would open the way towards the 3500 region. On the upside, a recovery above the 40 DMA would be required to stabilise sentiment, though broader trend resistance remains firmly overhead. The technical backdrop continues to favour lower prices in the near term.
NY 2nd Month Cocoa Futures
NY cocoa futures extended losses on Tuesday, settling at 4,360, after failing to sustain a recovery above near-term resistance. Prices remain firmly below the 10 DMA at 4,351, the 40 DMA at 5,453, and the 200 DMA at 7,198, underlining the entrenched bearish structure.
The stochastics are falling and remain close to oversold, suggesting ongoing downside pressure with limited signs of stabilisation. The MACD diff is negative and diverging, confirming that bearish momentum remains firmly in control. Support is seen at the recent low of 3,988, with a break below this level likely to extend losses further. On the upside, futures would need to reclaim 4,500 to begin easing downside pressure.
The near-term outlook remains decisively bearish while prices continue to trade below key trend resistance.
Ldn 2nd Month Cocoa Futures
London cocoa futures rebounded modestly on Tuesday, closing at 3096, after briefly probing fresh lows near 2769 earlier in the week. Despite the bounce, futures remain well below the 40 DMA at 3885 and the 200 DMA at 5039, underscoring the persistence of the broader bearish trend.
Stochastics are attempting to turn higher, with %K/%D lifting from oversold territory, suggesting some near-term stabilisation. However, the MACD diff remains negative, although the pace of divergence has slowed, indicating that downside momentum may be moderating rather than reversing.
To confirm a more durable recovery, futures need to reclaim the 10 DMA at 3060 decisively and then challenge resistance towards 3300–3400. Failure to build on the current rebound would leave the market vulnerable to renewed pressure towards the 2800 region. For now, the price action points to consolidation after heavy losses rather than a confirmed trend change.
