NY 2nd Month Sugar Futures
NY sugar futures rallied sharply on Tuesday as sustained buying pressure saw prices close at 19.99, near the session high and the psychological 20.00 level. Futures broke decisively above the 10 DMA at 18.93 and remained comfortably above the 40 DMA at 18.72, confirming a renewed bullish shift after the recent pullback towards 18.00. The rising 100 DMA at 16.62 remains well below current prices, preserving the broader constructive trend. The stochastics are rising sharply, with %K/%D at 95.63/96.65. Both lines are deep in overbought territory, signalling strong upside momentum but also increasingly stretched market conditions. The MACD diff has converged on the upside and turned positive at 0.0742, with the MACD line at 0.2897 above the signal line at 0.2155, confirming the return of buying pressure.
To confirm the outlook for higher prices, futures need to break above 20.00 and establish support beyond this psychological resistance. A sustained close above this level could set the scene for a move towards 20.50, with 21.00 representing the next significant upside target. On the downside, failure to retain support above 20.00 could trigger a pullback towards 19.50. More pronounced selling pressure would bring the 10 DMA at 18.93 and the 40 DMA at 18.72 into focus. A close below this moving-average support area would weaken the breakout and could see futures return towards 18.00.
Ldn 2nd Month Sugar Futures
Ldn sugar futures rallied strongly on Tuesday as robust buying pressure pushed prices to a new high of 568.80. Futures extended the breakout above the previous resistance around 550 and remained substantially above the 10 DMA at 531.16 and the 40 DMA at 526.40. The 100 DMA at 483.21 continues to rise well below the market, confirming the strength of the broader upward trend. The stochastics are elevated, with %K/%D at 97.26/97.63. Both lines are deep in overbought territory and broadly converged, signalling powerful upside momentum but also warning that the advance is becoming increasingly stretched. The MACD diff is positive and diverging at 4.2614, with the MACD line at 8.6971 above the signal line at 4.4357, confirming a pronounced acceleration in buying pressure.
To confirm the outlook for higher prices, futures need to hold above 560 and break through resistance around 570. A sustained close above this area could set the scene for an extension towards 580, followed by the psychological 600 level. On the downside, failure to retain support above 560 could trigger a pullback towards the previous breakout area around 550. A deeper correction would bring the 10 DMA at 531.16 and the 40 DMA at 526.40 into focus. Futures would need to close below this moving-average support area to undermine the broader bullish structure and shift attention back towards 500.
NY 2nd Month Coffee Futures
NY coffee futures rallied strongly on Tuesday as sustained buying pressure saw prices close at 295.85. Futures extended the recovery from the September low and closed above the 10 DMA at 279.24 and the 100 DMA at 291.66. However, prices remain marginally below the declining 40 DMA at 298.01, leaving the market close to the critical 298–300 resistance area. The stochastics are rising sharply, with %K/%D diverging on the upside at 95.41/80.27. Both lines are in overbought territory, signalling strong buying momentum but also indicating that the recovery is becoming stretched. The MACD diff is positive and diverging at 3.03, with the MACD line at -4.31 above the signal line at -7.33, confirming that selling pressure is receding and supporting the improving outlook.
To confirm the outlook for higher prices, futures need to break above the 40 DMA at 298.01 and then close above the psychological resistance at 300. A sustained move above these levels could set the scene for a test of 310, followed by the previous support and resistance area around 320. On the downside, a failure to overcome 300 could trigger a pullback towards the 100 DMA at 291.66. A close below this average could weaken the recovery and bring 285 into focus, before the 10 DMA at 279.24. A more substantial break below the 10 DMA would shift attention back towards 270.
Lnd 2nd Month Coffee Futures
Ldn coffee futures rallied sharply on Tuesday as robust buying pressure saw prices close at 3577. Futures moved decisively above the 10 DMA at 3407 and the 40 DMA at 3510, extending the recovery from the September low around 3220. However, prices closed marginally below the 100 DMA at 3579, leaving the market directly beneath a critical resistance level. The stochastics are rising, with %K/%D diverging on the upside at 94.23/87.78. Both lines are deep in overbought territory, confirming strong buying momentum but also signalling that the rally has become increasingly stretched. The MACD diff is positive and diverging at 31.88, with the MACD line at -20.32 above the signal line at -52.20, highlighting a substantial reduction in selling pressure and supporting the improving technical structure.
To confirm the outlook for higher prices, futures need to break above the 100 DMA at 3579 and then establish support above 3600. A sustained close above these levels could set the scene for a move towards 3700, followed by the August resistance area around 3800. On the downside, a failure to overcome the 100 DMA could trigger a pullback towards the 40 DMA at 3510. A close below this average would weaken the immediate bullish momentum and could bring 3450 into focus, before the 10 DMA at 3407. A break below the 10 DMA would undermine the developing recovery and expose support around 3300.
NY 2nd Month Cocoa Futures
NY cocoa futures edged higher on Tuesday as continued buying interest saw prices close at 5817. Futures held above the 10 DMA at 5687 following the recent rebound from the 100 DMA at 5308, but remained below the 40 DMA at 5911. This leaves prices between short-term support and medium-term resistance, with the recovery from the late-September low intact but not yet fully confirmed. The stochastics remain elevated, although %K has crossed below %D at 75.52/85.60, signalling that buying momentum is beginning to soften as the market approaches overbought territory. Conversely, the MACD diff has converged on the upside and turned positive at 17.11, with the MACD line at -52.35 above the signal line at -69.46, highlighting easing selling pressure and supporting the recent recovery.
To confirm the outlook for higher prices, futures need to break above the 40 DMA at 5911 and then take out the psychological resistance at 6000. A sustained close above these levels could set the scene for a move towards 6200, before the late-August resistance area around 6500–6800 comes back into focus. On the downside, futures need to hold above the 10 DMA at 5687. A break below this average could trigger a test of 5500, followed by the more robust support of the 100 DMA at 5308. A close below the 100 DMA would weaken the broader recovery and could bring 5000 back into focus.