Softs Technical Charts

NY 2nd Month Sugar Futures

NY sugar futures edged higher on Tuesday as continued buying pressure saw prices close at 20.23, above the psychological 20.00 level and near the recent highs. Futures remained comfortably above the 10 DMA at 19.51 and the 40 DMA at 18.98, while the rising 100 DMA at 16.85 continues to provide longer-term support. The positive alignment of prices above all three averages confirms the broader bullish structure, although the market is now testing an important resistance area around 20.25–20.30.

The stochastics are rising, with %K/%D diverging on the upside at 96.51/82.10. Both indicators are in overbought territory, signalling strong buying momentum but also showing that the advance is becoming increasingly stretched. The MACD diff is positive and diverging at 0.0892, with the MACD line at 0.4006 above the signal line at 0.3114, confirming continued buying pressure and supporting the bullish outlook.

To confirm the outlook for higher prices, futures need to break above the recent resistance around 20.25–20.30. A sustained close above this area could set the scene for a move towards 20.50, followed by 21.00. On the downside, a failure to sustain the move above 20.00 could trigger a pullback towards the 10 DMA at 19.51. A close below this average would weaken the immediate bullish momentum and bring the 19.00 level and the 40 DMA at 18.98 into focus. A break below this support area would represent a more meaningful deterioration in the short-term structure.

Ldn 2nd Month Sugar Futures

Ldn sugar futures rallied on Tuesday as renewed buying pressure saw prices close at 572.90, extending the advance above the previous resistance around 570. Futures remained substantially above the 10 DMA at 553.17 and the 40 DMA at 532.74, while the rising 100 DMA at 489.29 continues to support the broader upward trend. The moving-average structure remains firmly bullish, with the latest advance taking futures back towards the upper end of the recent range.

The stochastics are rising, with %K/%D diverging on the upside at 93.27/81.90. Both indicators are in overbought territory, signalling strong upside momentum but also warning that the market is becoming stretched following the latest rally. The MACD diff is positive and diverging at 3.6995, with the MACD line at 12.9432 above the signal line at 9.2437, confirming growing buying pressure and supporting further gains.

To confirm the outlook for higher prices, futures need to hold above 570 and break through the latest resistance around 575. A sustained close above this area could set the scene for a move towards 580, followed by the psychological 600 level. On the downside, a failure to retain support above 570 could trigger a pullback towards 560 and then the 10 DMA at 553.17. A close below the 10 DMA would weaken the immediate bullish momentum and bring 540 into focus, followed by the more robust support of the 40 DMA at 532.74.

NY 2nd Month Coffee Futures

NY coffee futures edged higher on Tuesday as buying interest saw prices close at 285.50. Futures settled above the 10 DMA at 283.79, preserving the recent stabilisation after the recovery from the September low. However, prices remain below the closely aligned 100 and 40 DMAs at 292.52 and 293.87, respectively. This creates a robust resistance area around 292.50–294.00 and leaves the broader technical structure under pressure.

The stochastics are rising from the lower half of the range, with %K/%D at 41.18/36.52. %K has moved above %D, suggesting that buying momentum is beginning to recover following the recent downturn. The MACD diff is positive at 1.86, with the MACD line at -2.76 above the signal line at -4.62, highlighting easing selling pressure. However, both MACD lines remain below zero, meaning the improvement in momentum has not yet developed into a fully bullish signal.

To confirm the outlook for higher prices, futures need to hold above the 10 DMA at 283.79 and break through resistance around 290. A sustained close above the 100 and 40 DMAs at 292.52 and 293.87 could set the scene for a test of the psychological 300 level. On the downside, a break below the 10 DMA could trigger a test of support at 280. A close below this level would weaken the current stabilisation and bring 275 into focus, followed by the more robust September support around 265–270.

Lnd 2nd Month Coffee Futures

Ldn coffee futures edged higher on Tuesday as marginal buying interest saw prices close at 3443. Despite the positive session, futures remained below the 10 DMA at 3459 and the 40 DMA at 3480, while the 100 DMA at 3583 continues to provide more substantial resistance. The market has therefore failed to maintain the recent recovery above its short-term moving averages, leaving the technical structure vulnerable after prices were rejected from the 3600 area.

The stochastics are falling, with %K/%D at 37.75/40.79 and %K remaining below %D. This configuration signals fading buying momentum and suggests continued appetite for lower prices, although the indicators remain above oversold territory. Conversely, the MACD diff is positive at 14.75, with the MACD line at -12.34 above the signal line at -27.09, highlighting that broader selling pressure continues to moderate. However, both lines remain below zero, while the positive differential appears to be losing some momentum, leaving the recovery without firm confirmation.

To confirm the outlook for lower prices, futures need to remain below the 10 DMA at 3459 and break through support around 3400. A sustained close below this level could set the scene for a move towards 3350, followed by 3300 and the September low around 3220–3250. On the upside, futures need to regain the 10 DMA and break above the 40 DMA at 3480. A close above these averages could trigger a test of 3500, although futures would then need to take out the 100 DMA at 3583 and the psychological 3600 level to confirm a stronger recovery.

NY 2nd Month Cocoa Futures

Ldn 2nd Month Cocoa Futures