1. Reports
  2. Daily Softs Technical Charts

Non-independent Research Daily Softs Technical Charts

Non-independent Research

Daily Softs Technical Charts

Read disclaimer

Sugar Charts

New York Raws, 2nd Month

NY sugar futures sold off yesterday as intraday trading caused prices to test trend support at 14. The market pared some losses to close at 14.20. The stochastics are falling; the MACD diff is negative and diverging suggesting lower prices. Protracted selling pressure could set the scene for a breach of trend support. Secondary support stands at 13.81, superseding this level support stands at 13.50. On the upside, trend support held firm yesterday and this could trigger gains towards 14.50 once again. In order to regain upside conviction, the market needs to gain a footing above 14.50 and then 14.76.

London Whites, 2nd Month

London sugar futures sold off yesterday as protracted selling pressure triggered a close at 393.20. The MACD diff and stochastics are falling, suggesting lower prices in the near term. A breach of support at 386.80 would bring into play trend support. The 100 DMA is still rising and we expect this to provide support in the medium term. A break of the 386.80 would help confirm the three black crows pattern. On the upside, if support at 386.80 holds firm, this could trigger gains back to 400 with robust resistance at 407.50.

Cocoa Charts

New York Cocoa, 2nd Month

NY cocoa futures held their nerve yesterday as prices were supported towards 2700, we closed at 2745. The indicators are falling and the MACD diff is negative suggesting lower prices in the near term. Support stands at 2700 before 2626. If support at this level holds firm the long term trend will remain intact. On the upside, futures need to gain a footing above the 40 DMA and then 2800. We expect prices to soften in the near term.

London Cocoa, 2nd Month

London cocoa futures edged higher yesterday as intraday trading saw prices test appetite at 2000. The market closed at 1987. The stochastics are falling and the MACD diff is negative and diverging. We expect prices to retreat in the near term towards support at 1927, secondary support stands at 1900. A breach of 1900 in the near term would confirm the double top at 2075.

Coffee Charts

New York Arabica, 2nd Month

NY coffee futures failed into the 100 DMA yesterday, prompting a close at 109.75. The MACD diff is positive but lacks conviction. The double top at the 100 DMA could trigger losses back to 61.8% fib level at 108.55 but robust support stands at 106.30. A close below 106.30 would help confirm the double top and shooting star candle. On the upside, futures need to close above the 100 DMA before targeting the 50% fib level at 115.02. We expect futures to soften in the near term.

London Robusta, 2nd Month

London coffee futures failed above trend resistance yesterday, prompting a close at 1289. The RSI is falling and the MACD diff lacks conviction suggesting we could see futures soften in the near term. Robust support at 1267 is being challenged and a break of this level would confirm the descending triangle. Secondary support stands at 1209. If support holds firm, this could trigger gains through 1325 towards 1390 which is the 50% fib level. In the near term, we expect futures to soften and break below 1267.



This is a marketing communication. The information in this report is provided solely for informational purposes and should not be regarded as a recommendation to buy, sell or otherwise deal in any particular investment. Please be aware that, where any views have been expressed in this report, the author of this report may have had many, varied views over the past 12 months, including contrary views.

A large number of views are being generated at all times and these may change quickly. Any valuations or underlying assumptions made are solely based upon the author’s market knowledge and experience.

Please contact the author should you require a copy of any previous reports for comparative purposes. Furthermore, the information in this report has not been prepared in accordance with legal requirements designed to promote the independence of investment research. All information in this report is obtained from sources believed to be reliable and we make no representation as to its completeness or accuracy.

This report is not subject to any prohibition on dealing ahead of the dissemination of investment research. Accordingly, the information may have been acted upon by us for our own purposes and has not been procured for the exclusive benefit of customers. Sucden Financial believes that the information contained within this report is already in the public domain. Private customers should not invest in these products unless they are satisfied that the products are suitable for them and they have sought professional advice. Please read our full risk warnings and disclaimers.

Sign-up to get the latest Non-independent research

We will email you each time a new report has been published.

You might also be interested in...

Daily Report FX

A morning report covering fundamentals and technicals for USD, EUR, GBP, JPY, and CHF.

Daily Report Base Metals

Daily market commentary on LME aluminium, copper, lead, nickel, tin and zinc.

Quarterly Metals Report – Q4 2021

The global macro picture is starting to present some downside risks in the near term as China's economy is set to slow further and supply-chain bottlenecks continue to cap growth. New orders and new export orders in China are contractionary, and we expect demand in Q4. Order backlogs and lead times for products will continue in Q4, limiting growth, and real consumption is weaker than it looks. Higher costs from shipping, raw materials and energy will take their toll on the consumer, and we expect end-user demand to suffer. The final piece of the jigsaw is the reduction in stimulus from central banks and how that will impact financial markets, bond yields, and the dollar has rallied while stocks corrected, but what will this trend continue?

Weekly Report FX Options

Commentary and analysis covering OTC currency option pricing, volatility and positioning.

FX Monthly Report September 2021

Monthly commentary covering the FX markets, providing insights on recent developments on select currency pairs. The report includes a macroeconomic overview as well as desk comments and technical analysis on key currency pairs.