NY 2nd Month Sugar Futures
NY sugar futures edged higher on Tuesday as prices closed just below 14, holding marginally above the 10 DMA while remaining capped beneath the 40 DMA and the 100 DMA. The stochastics show %K slightly below %D in the upper half of the range, suggesting momentum is flattening after the recent recovery from February lows and indicating that upside momentum may be losing traction in the near term. Meanwhile, the MACD diff remains positive but has begun to converge, signalling that the recent stabilisation in prices is not yet translating into stronger upside momentum.
To confirm a more constructive recovery structure, futures need to break and close above resistance at around 14.3, which would expose the 40 DMA and then allow prices to test the 15.6 level. Conversely, failure to hold above the 10 DMA could see futures retest nearby support around 13.75 before revisiting the broader base near 13.
Recent candles show small bodies within a relatively tight range, highlighting hesitation as prices approach the cluster of moving average resistance above. While the rebound from mid-February lows has helped stabilise the market, momentum indicators suggest that further upside may struggle to develop unless futures establish acceptance above the 40 DMA.
Ldn 2nd Month Sugar Futures
Ldn sugar futures strengthened on Tuesday as prices closed above 411, holding comfortably above the 10 DMA but still capped beneath the 40 DMA and the 100 DMA. The stochastics show %K above %D and continuing to rise in the upper half of the range, signalling improving upside momentum following the rebound from the February low near 394. At the same time, the MACD diff has turned positive and is diverging, suggesting that selling pressure is easing and that buying momentum is gradually building in the short term.
To confirm a more sustained recovery phase, futures need to break above resistance at 414, which would expose the 100 DMA near 419 and potentially allow prices to test the 434 level. On the downside, failure to sustain gains above 405 could see prices retreat toward the key psychological support at 400, with a break below that level opening the way to 395.
Recent candles show a gradual recovery with higher lows developing since mid-February, indicating improving sentiment, though the proximity of the 40 DMA continues to cap upside attempts. In the near term, momentum indicators point to a cautiously constructive bias, but a decisive close above the medium-term averages is required to confirm a stronger recovery.
NY 2nd Month Coffee Futures
NY coffee futures edged lower on Tuesday as prices closed around 283, holding just below the 10 DMA while remaining well beneath the 40 DMA and the 100 DMA. The broader structure remains bearish as prices continue to trade below all major moving averages, highlighting persistent downward pressure despite recent stabilisation attempts. The stochastics are rising, with %K holding above %D in the lower half of the range, suggesting improving short-term momentum as the market attempts to stabilise after the recent decline. Meanwhile, the MACD diff has turned positive and is beginning to diverge, indicating that selling pressure is easing and that downside momentum may be losing strength.
To confirm a more constructive recovery structure, futures need to reclaim the 10 DMA decisively and then break above resistance near 300, which would open the way for a test of the 40 DMA at around 313. On the downside, failure to sustain prices near current levels could see futures retest the key support at 280, with a break below that level exposing the broader downside target around 250.
Recent candles show small-bodied price action within a narrow range, highlighting market hesitation as prices attempt to stabilise near recent lows. While momentum indicators suggest early signs of recovery, the broader trend remains bearish unless futures establish acceptance above the short-term averages.
Lnd 2nd Month Coffee Futures
Ldn coffee futures edged lower on Tuesday as prices settled at 3705, remaining above the 10 DMA but still capped beneath the 40 DMA and the 100 DMA. The market continues to trade within a broader downward structure, though recent price action suggests tentative stabilisation following the sharp declines seen earlier in the year. The stochastics are rising, with %K above %D and moving higher in the mid-range, indicating improving upside momentum in the short term. Meanwhile, the MACD diff remains positive and is diverging slightly, suggesting that selling pressure is easing and that a recovery phase may be attempting to develop.
To confirm a more sustained recovery, futures need to break above resistance at 3800 and then reclaim the 40 DMA at 3846, which would open the way toward the 4000 level. On the downside, failure to hold above the 10 DMA could see prices retest support near 3600, with a break below that level exposing the next downside target around 3500.
Recent candles show higher lows developing after the February decline, signalling that buyers are gradually re-emerging, though the presence of overhead resistance near the medium-term averages continues to limit upside momentum. In the near term, indicators suggest a cautiously constructive bias, but confirmation requires a decisive break above the 40 DMA.
NY 2nd Month Cocoa Futures
NY cocoa futures edged lower on Tuesday as prices settled at 3015, remaining below the 10 DMA and significantly beneath the 40 DMA and the 200 DMA, confirming that the broader trend remains firmly bearish. The stochastics are rising modestly, with %K trading above %D in the lower end of the range, suggesting early signs of stabilisation following the recent decline from January levels. Meanwhile, the MACD diff has turned marginally positive and is beginning to diverge, indicating that selling pressure may be easing in the short term even as the broader trend remains negative.
To confirm a stabilisation phase, futures need to reclaim the 10 DMA at 3077 and then challenge resistance near 3200. A move above this level could trigger a corrective recovery toward the 40 DMA at 4258. On the downside, failure to hold above the psychological 3000 level could see futures retest the recent low at 2846, with a break below that level exposing the next key support near 2420.
Recent candles show smaller bodies following the sharp declines earlier in the year, highlighting a slowdown in downside momentum as markets attempt to stabilise near recent lows. While momentum indicators suggest that selling pressure may be fading, the broader structure remains bearish unless prices reclaim the short-term averages.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures continued to weaken on Tuesday as prices closed at 2057, remaining below the 10 DMA and well beneath the 40 DMA and the 200 DMA, reinforcing the dominant bearish structure across all time horizons. The stochastics are falling, with %K trading below %D and holding deep in oversold territory near 8, signalling persistent downside momentum despite the proximity to long-standing support levels. At the same time, the MACD diff remains negative and continues to diverge, highlighting ongoing selling pressure and little evidence yet of a sustained stabilisation.
To confirm the continuation of the downtrend, futures need to break below the key support at 2050, which could expose the psychological 2000 level and potentially the longer-term support near 1740. On the upside, any meaningful recovery would require prices to reclaim the 10 DMA at 2250, which could then open the way for a corrective move toward 2400.
Recent candles remain predominantly bearish with limited recovery attempts, suggesting that rallies continue to attract selling interest. In the near term, momentum indicators continue to point toward further weakness unless prices regain acceptance above the short-term averages.
