NY 2nd Month Sugar Futures
NY sugar futures fell sharply on Tuesday as sustained selling pressure pushed prices down to close at 17.80. Futures moved decisively below the 10 DMA at 18.91 and the 40 DMA at 19.16, extending the correction from the October high above 20.00. Prices remain marginally above the rising 100 DMA at 17.53, which is now the critical support protecting the longer-term upward structure. The sequence of lower highs and lower lows since early October confirms that the immediate trend has shifted firmly to the downside.
The stochastics are falling in deeply oversold territory, with %K/%D at 0.44/14.55. The pronounced downside divergence signals strong bearish momentum and limited appetite for higher prices, although the exceptionally low %K reading leaves the market increasingly vulnerable to a technical rebound. The MACD diff is negative and diverging at -0.2163, with the MACD line at -0.1825 below the signal line at 0.0339, confirming growing selling pressure.
To confirm the outlook for lower prices, futures need to break below the 100 DMA at 17.53 and take out support around 17.50. A sustained close below this area could set the scene for a move towards 17.00, followed by the previous consolidation area around 16.50. On the upside, deeply oversold conditions could encourage a technical rebound, but futures first need to recover above 18.00 before targeting the 10 DMA at 18.91. A close above the 40 DMA at 19.16 would be required to ease the broader bearish pressure and bring 19.50 back into focus.
Lnd 2nd Month Sugar Futures
Lnd sugar futures fell sharply on Tuesday as robust selling pressure pushed prices down to close at 513.90. Futures remained well below the 10 DMA at 537.60 and the 40 DMA at 539.72, confirming a marked deterioration in the short-term structure following the rejection from the October high near 575. Prices remain above the rising 100 DMA at 505.75, but the narrow distance between the market and this average leaves the broader upward structure increasingly vulnerable.
The stochastics are falling in deeply oversold territory, with %K/%D at 6.41/11.71. %K remains below %D, signalling pronounced bearish momentum and continued appetite for lower prices. The MACD diff is negative and diverging at -5.5205, with the MACD line at -3.1641 below the signal line at 2.3565, confirming growing selling pressure and supporting the weaker near-term outlook.
To confirm the outlook for lower prices, futures need to break below the immediate support around 510 and then take out the 100 DMA at 505.75. A sustained close below this average could set the scene for a test of the psychological support at 500. A break below 500 would represent a more significant deterioration and could bring 490 into focus. On the upside, deeply oversold conditions could support a technical rebound, but futures need to recover above 520 before targeting the 10 and 40 DMAs at 537.60 and 539.72, respectively. A close above this moving-average resistance area would be required to ease the broader bearish pressure and bring 550 back into focus.
NY 2nd Month Coffee Futures
NY coffee futures edged higher on Tuesday as tentative buying interest around the recent lows saw prices close at 274.60. Futures nevertheless remained below the closely aligned 40 and 10 DMAs at 283.34 and 284.33, respectively, while the 100 DMA at 297.65 continues to provide more substantial resistance. The market’s position below all three moving averages maintains the bearish structure following the rejection from the October high around 305, with immediate support now concentrated around 270–275.
The stochastics are falling in deeply oversold territory, with %K/%D at 6.11/14.58. %K remains below %D, signalling continued bearish momentum and limited appetite for a sustained recovery. The MACD diff is negative and diverging at -1.63, with the MACD line at -2.77 below the signal line at -1.14, confirming persistent selling pressure.
To confirm the outlook for lower prices, futures need to break below support around 270. A sustained close below this level could set the scene for a move towards the September low around 260, followed by 250. On the upside, deeply oversold conditions could encourage a technical rebound, but futures need to regain the 40 and 10 DMAs at 283.34–284.33 to ease the immediate bearish pressure. A close above this resistance area could trigger a test of 290, although futures would need to break above the 100 DMA at 297.65 and then 300 to confirm a stronger recovery.
Lnd 2nd Month Coffee Futures
Lnd coffee futures edged higher on Tuesday as buying interest around the recent lows saw prices close at 3210. Despite the modest recovery, futures remained below the 10 DMA at 3236 and well beneath the 40 and 100 DMAs at 3380 and 3577, respectively. The market remains in a clear sequence of lower highs and lower lows, while its position below all three moving averages confirms the broader bearish structure. Prices continue to consolidate around 3200, which remains the key immediate support.
The stochastics are broadly stable near oversold territory, with %K/%D at 22.80/22.92. The two lines are almost fully converged, signalling indecision and suggesting that the recent selling momentum may be beginning to stabilise. However, the MACD diff remains negative at -11.44, with the MACD line at -67.44 below the signal line at -56.00, confirming that broader selling pressure remains intact.
NY 2nd Month Cocoa Futures
NY cocoa futures edged lower on Tuesday as continued selling pressure saw prices close at 5506. Futures remained below the 10 DMA at 5636 and the 40 DMA at 5741, while the latest decline also pushed prices beneath the 100 DMA at 5652. The position below all three moving averages confirms a marked deterioration in the technical structure, with the market extending the sequence of lower highs established since the August peak. Immediate support remains around 5500, which is now critical for the near-term outlook.
The stochastics are falling in deeply oversold territory, with %K/%D at 11.95/13.85. %K remains below %D, signalling continued bearish momentum, although the depressed readings suggest that the decline is increasingly stretched. The MACD diff is negative and diverging at -27.15, with the MACD line at -70.43 below the signal line at -43.28, confirming growing selling pressure and providing little evidence that the broader decline has stabilised.
To confirm the outlook for lower prices, futures need to break below support at 5500. A sustained close below this level could set the scene for a move towards 5400, followed by the September support area around 5200. On the upside, deeply oversold conditions could encourage a technical rebound, but futures need to recover above the 100 DMA at 5652 and the 10 DMA at 5636 before targeting the 40 DMA at 5741. A close above the 5700–5741 resistance area would be required to ease the broader bearish pressure and bring 5800 back into focus.
Lnd 2nd Month Cocoa Futures
Lnd cocoa futures fell sharply on Tuesday as sustained selling pressure pushed prices down to close at 4192. Futures remained below the 10 DMA at 4286 and the 40 DMA at 4328, while the decline also took prices marginally below the 100 DMA at 4206. The move beneath all three averages weakens both the short- and medium-term technical structure and leaves the market testing the lower boundary of the consolidation range established since July.
The stochastics are falling in deeply oversold territory, with %K/%D at 10.32/13.78. %K remains below %D, signalling strong bearish momentum, although the low readings indicate that the decline has become stretched. The MACD diff is negative and diverging at -22.30, with the MACD line at -32.53 below the signal line at -10.23, confirming growing selling pressure and supporting the weaker near-term outlook.
To confirm the outlook for lower prices, futures need to remain below the 100 DMA at 4206 and break through support around 4150. A sustained close below this level could set the scene for a move towards the psychological support at 4000. On the upside, deeply oversold conditions could encourage a technical rebound, but futures need to regain the 100 DMA before targeting the 10 DMA at 4286 and the 40 DMA at 4328. A close above the 4286–4328 resistance area would ease the immediate bearish pressure and could trigger a recovery towards 4400.
