March sugar closed up 27 points at 26.87 cents yesterday. Prices closed nearer the session low yesterday and were supported on more short covering following recent strong selling pressure. The key "outside markets" were in a bullish posture for sugar yesterday, as the U.S. dollar index was lower, while crude oil and stock index prices were higher. Bulls' next upside price objective is to push and close prices above solid technical resistance at 28.00 cents. Bears' next downside price objective is to push and close prices below solid technical support at last week's low of 25.70 cents. First resistance is seen at 27.12 cents and then at yesterday's high of 27.44 cents. First support is seen at yesterday's low of 26.71 cents and then at this week's low of 26.31 cents.

Wyckoff's Market Rating: 5.0

Source: VantagePoint Intermarket Analysis Software

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March coffee closed down 60 points at 130.05 cents yesterday. Prices closed nearer the session low yesterday. The key "outside markets" were in a bullish posture for coffee yesterday, as the U.S. dollar index was lower, while crude oil and stock index prices were higher. Yet, coffee could not rally, which is another bearish clue for coffee. Coffee bears have the near-term technical advantage. Prices are in a seven-week-old downtrend on the daily bar chart. Bulls' next upside objective is to close prices above solid technical resistance at 138.00 cents. The next downside price objective for the bears is closing prices below solid technical support at the October low of 122.80 cents a pound. First resistance is seen at 131.20 cents and then at yesterday's high of 132.20 cents and then at 133.00 cents. First support is seen at yesterday's low of 129.45 cents and then at this week's low of 128.50
cents.

Wyckoff's Market Rating: 3.0

March cocoa closed down $22 at $2,997 yesterday. Prices closed near mid-range yesterday in quieter trading. The key "outside markets" were in a bullish posture for cocoa yesterday, as the U.S. dollar index was lower, while crude oil and stock index prices were higher. Yet, cocoa could not make gains, which is another bearish clue for cocoa. A bearish double-top reversal pattern has also formed on the daily bar chart. The next upside price objective for the cocoa bulls is to push and close prices above solid technical resistance at $3,154. The next downside price objective for the bears is pushing and closing prices below solid technical support at the August low of $2,725. First resistance is seen at yesterday's high of 3,020 and then at $3,050. First support is seen at yesterday's lowof $2,978 and then at this week's low of $2,955 and then at $2,900.

Wyckoff's Market Rating: 4.0.

March cotton closed up the limit of 300 points at 72.16 cents yesterday. Prices hit a fresh three-week high yesterday and were boosted by a very surprisingly bullish USDA report that showed U.S. exports of cotton up 1 million bales over last month's report. The key "outside markets" were also in a bullish posture for cotton yesterday, as the U.S. dollar index was lower, while crude oil and stock index prices were higher. Bulls now have the overall near-term technical advantage in cotton. A five-week-old downtrend on the daily bar chart was soundly negated yesterday. The next downside price objective for the cotton bears is to produce a close below solid technical support at 70.00 cents. The next upside price objective for the bulls is to produce a close above solid technical resistance at 74.00 cents. First support is seen at 72.00 cents and then at 71.50 cents. First resistance is seen at 72.50 cents and then at 73.00 cents.

Wyckoff's Market Rating: 6.0.

March orange juice closed up 325 points at $1.3750 yesterday. Prices closed near mid-range yesterday and did score a bullish "outside day" up on the daily bar chart. A bullish USDA Florida orange crop estimate boosted FCOJ yesterday. The key "outside markets" were also in a bullish posture for FCOJ yesterday, as the U.S. dollar index was lower, while crude oil and stock index prices were higher. FCOJ bulls have the overall near-term technical advantage. The next upside price objective for the FCOJ bulls is pushing and closing prices above strong technical resistance at yesterday's high of $1.4300. The next downside technical objective for the FCOJ bears is to produce a close below solid technical support at the January low of $1.2900. First resistance is seen at $1.3880 and then at $1.4000. First support is seen at $1.3500 and then at yesterday's low of $1.3300.

Wyckoff's Market Rating: 6.5.

March lumber futures closed down $1.50 at $270.00 yesterday. Prices closed nearer the session low yesterday. Bulls still have upside near-term technical momentum. The next upside technical objective for the lumber bulls is pushing and closing prices above solid technical resistance at $300.00. The next downside price objective for the bears is pushing and closing prices below solid support at $257.50. First resistance is seen at yesterday's high of $275.00 and then at Friday's contract high of $280.00. First support is seen at yesterday's low of $268.20 and then at $265.00.

Wyckoff's Market Rating: 7.5.