Milk futures have flipped to a Neutral Trend while Cocoa power on to new contract highs!
Cocoa
Technicals (December)
Cocoa futures drift to new contract highs! Cocoa has traded with a Bullish trend since August 17 at 3512. Only a breakdown below 3541 will shift traders to the sidelines.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 3700***
Pivot: 3541
Support: 3391**, 3300-3250***
Coffee
Technicals (December)
Coffee futures drifted to new contract lows. Only a close above 157.58 switches from a Bearish to a Neutral trend. Overhead resistance at the 200- DMA near 168.93 will also provide headwinds.
Bias: Neutral/Bearish
Previous Session Bias: Neutral/Bearish
Resistance: 157.58**, 160.00**, 163.58**, 165.34-166.00***
Pivot: 150.00
Support: 145.00***
Sugar
Technicals (March)
Sugar futures corrected from Friday’s new contract highs. The market has been bullish since August 25, and only a breakdown below 25.03 will take it back to a neutral trend.
Bias: Bullish/Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 26.50-27.00***
Pivot: 25.03
Support: 23.85***
Cotton
Technicals (December)
After a three-day sharp correction in Cotton, prices have returned to a Neutral trend. Only a close above 88.73 or below 84.53 will determine the next tradable direction.
Bias: Neutral
Previous Session Bias: Neutral
Resistance: 88.73**, 89.00-90.00***
Pivot: 85.88
Support: 84.53**, 82.00-81.90**, 81.67***
Rough Rice
Technicals (November)
Yesterday’s washout has driven prices to a Bearish Trend at 15.795 on September 11. Once a close over 16.520 will drive prices back to a Neutral trend.
Bias: Bearish/Neutral
Previous Session Bias: Neutral
Resistance: 16.52**, 17.00****
Pivot: 16.00
Support: 15.00**, 14.75***
Milk Class III
Technicals (October)
Milk futures slide to a Neutral Trend. Only a close over 19.12 or below 17.80 will determine the next directional play.
Bias: Neutral
Previous Session Bias: Bullish/Neutral
Resistance: 19.12***
Pivot: 18.45
Support: 17.80**
