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FOOD & FIBER https://quotes.ino.com/exchanges/category.html?c=food
July coffee closed higher on Tuesday. The mid-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 14.15 would signal that a short-term top has been posted. If July extends the rally off March's low, the November-2016 high crossing at 17.60 is the next upside target.
July cocoa closed lower on Tuesday as it consolidated some of this month's rally. The mid-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July extends this month's rally, the March 11th high crossing at 26.21 is the next upside target. If July renews the decline off April's high, November's low crossing at 22.51 is the next downside target.
July sugar closed sharply higher on Tuesday as it extended this year's rally to a new contract high. The high-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If July renews the rally off March's low, long-term resistance on the monthly continuation chart crossing at 18.42 is the next upside target. Closes below the 20-day moving average crossing at 17.01 would signal that a short-term top has been posted.
July cotton closed lower on Tuesday. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 87.75 would signal that a short-term top has been posted. If July renews the rally off March's low, February's high crossing at 96.22 is the next upside target.