Sugar futures surge on strong fundamentals out of India!
Cocoa
Technicals (December)
Cocoa futures surge to new contract highs! Cocoa has traded with a Bullish trend since August 17 at 3512. Only a breakdown below 3471 will shift traders to the sidelines.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 3625***
Pivot: 3471
Support: 3391**, 3300-3250***
Coffee
Technicals (December)
Coffee futures correct overnight after last week’s recovery. Only a close above 158.83 switches from a Bearish to a Neutral trend. Overhead resistance at the 200- DMA near 169.15 will also provide headwinds.
Bias: Neutral/Bearish
Previous Session Bias: Neutral/Bearish
Resistance: 160.00**, 163.58**, 165.34-166.00****, 170.50***
Pivot: 150.00
Support: 145.00***
Sugar
Technicals (October)
Sugar futures continue to rally to new contract highs. The market has been in a bullish trend since August 28, and only a breakdown below 24.16 will take it back to a neutral trend.
Bias: Bullish/Neutral
Previous Session Bias: Neutral
Resistance: 26.25***
Pivot: 24.50
Support: 23.85***
Cotton
Technicals (December)
After pressing to new contract highs, Cotton made a sharp correction after the U.S. Dollar surged. Critical support continues to rise to 86.03, and only a close below will shift traders to the sidelines.
Cotton futures captured bullish trade momentum on July 19 at 83.75 and promptly traded up to recent contract highs, which were tested again on August 11.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 89.00-90.00***
Pivot: 85.69
Support: 82.00-81.90**, 81.67***
Rough Rice
Technicals (November)
Rough Rice futures stall with support rising to 16.22, where any breach on a closing basis will shift the Bullish trend back to Neutral and could signal a larger washout down to 15.00.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 17.00****
Pivot: 16.22
Support: 15.96**, 15.00**, 14.75***
Milk Class III
Technicals (September)
Milk futures stalled after being on a tear since July 21, when our proprietary trend analyzer flipped to a bullish trend at 17.27. Only a close below 18.20 will shift traders to the sidelines.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 19.00***
Pivot: 18.06
Support: 17.00**
