SOFTS: October sugar closed down 20 points at
18.42 cents today. Prices closed near the session
low on profit taking after hitting a fresh four-
month high early on today. Sugar bulls still have
the near-term technical advantage. Prices are still
in a gentle 11-week-old uptrend on the daily bar
chart. Bulls' next upside price objective is to
push and close prices above solid technical
resistance at 20.00 cents. Bears' next downside
price objective is to push and close prices below
solid technical support at 17.00 cents. First
resistance is seen at last week's high of 18.66
cents and then at today's high of 19.05 cents.
First support is seen at this week's low of 18.25
cents and then at 18.00 cents. Wyckoff's Market
Rating: 6.0
September coffee closed down 185 points at 163.75 cents
today. Prices closed near the session low today and were
pressured by lower crude oil prices and a firmer U.S.
dollar index. Coffee bulls still have the overall near-
term technical advantage. Bulls' next upside objective is
to close prices above solid technical resistance at the
July high of 169.80 cents. The next downside price
objective for the bears is closing prices below solid
technical support at the July low of 155.80 cents a
pound. First resistance is seen at 165.00 cents and then
at today's high of 166.55 cents. First support is seen at
today's low of 163.20 cents and then at 162.50 cents.
Wyckoff's Market Rating: 6.0
September cocoa closed up $26 at $2,999 today. Prices
closed nearer the session high today. Bulls and bears are
back on a level near-term technical playing field. The
next upside price objective for the cocoa bulls is to
push and close prices above solid technical resistance at
$3,100. The next downside price objective for the bears
is pushing and closing prices below solid technical
support at $2,900. First resistance is seen at today's
high of $3,026 and then at $3,050. First support is seen
at today's low of $2,954 and then at $2,925. Wyckoff's
Market Rating: 5.0.
December cotton closed up 21 points at 76.70 cents today.
Prices closed nearer the session high today and hit
another fresh three-week high. As has been the case in
recent months, just when the market was poised to see
fresh, strong downside pressure, the bulls come roaring
back. The next downside price objective for the cotton
bears is to produce a close below solid technical support
at 75.00 cents. The next upside price objective for the
bulls is to produce a close above solid technical
resistance at 77.50 cents. First support is seen at 76.50
cents and then at today's low of 76.00 cents. First
resistance is seen at today's high of 76.94 cents and
then at 77.50 cents. Wyckoff's Market Rating: 6.5.
September orange juice closed up 105 points at $1.4685
today. Prices closed nearer the session high today and
hit another fresh three-week high. Bulls have the near-
term technical advantage. Prices are in a two-week-old
uptrend on the daily bar chart. The next upside price
objective for the FCOJ bulls is pushing and closing
prices above strong technical resistance at $1.5000. The
next downside technical objective for the FCOJ bears is
to produce a close below solid technical support at
$1.4000. First resistance is seen at today's high of
$1.4770 and then at $1.4900. First support is seen at
today's low of 1.4555 and then at $1.4400. Wyckoff's
Market Rating: 6.0.
September lumber futures closed down $7.70 at $200.30
today. Prices closed near the session low again today.
The lumber bears have the firm overall near-term
technical advantage. The next upside technical objective
for the lumber bulls is pushing and closing prices above
solid technical resistance at last week's high of
$215.00. The next downside price objective for the bears
is pushing and closing prices below solid technical
support at the contract low of $183.00. First resistance
is seen at $202.50 and then at $205.00. First support is
seen at today's low of $200.00 and then at the July low
of $197.30. Wyckoff's Market Rating: 2.0.