NY 2nd Month Sugar Futures
NY sugar futures opened higher yesterday but struggled to maintain position above the 18.00, prompting at close at 17.91. The contract continues to trade below all major moving averages, with the 10 DMA at 18.51 and the 100 DMA at 18.69 capping upside moves for now. Stochastics are seen converging on the upside as they remain in oversold territory (%K at 13.60), suggesting that downside momentum may be starting to taper off, with the market potentially stabilising around support of 17.80. Meanwhile, the MACD diff is still negative but flattening, indicating that bearish momentum is losing strength. Today, with prices trading above 18.00 could reinforce signs of consolidation and could open the way for a test of resistance at 18.50. On the downside, a break below 18.00 would expose the February low at 17.71, followed by 17.30. While the broader trend remains soft, oversold conditions and flattening momentum indicators point to a potential pause or bounce in the near term.
Ldn 2nd Month Sugar Futures
London sugar futures settled at 505.00 on Thursday, staging a modest recovery after holding above the 493.80 floor. Despite the bounce, the contract remains below all key moving averages, with the 10 DMA at 522.62 and the 100 DMA at 520.08 now acting as near-term resistance. Stochastics are in oversold territory (%K at 13.99), which could signal that the recent downside is losing steam and prices may begin to stabilise. The MACD diff remains negative but is showing signs of convergence, suggesting bearish momentum is softening. Today, a close above 512.60 would be the first step toward easing downside pressure, with stronger resistance seen at 519.00 and 522. A failure to build on this rebound, however, would expose the contract to renewed selling and a potential retest of 493.80. Momentum remains fragile, but oversold conditions and slowing downside pressure point to a possible pause in the recent decline.
NY 2nd Month Coffee Futures
NY coffee futures settled at 341.60 on Thursday, struggling to hold above the 200-day moving average at 340.09 by the end of the day. The contract remains under pressure, trading below the 10 DMA (363.29) and 100 DMA (351.56), which now act as immediate resistance. Stochastics are deeply oversold (%K at 22.46), suggesting that downside momentum may be starting to taper off. The MACD diff remains negative but is showing early signs of flattening, hinting that the pace of the decline may be slowing. If futures breach the 200 DMA level completely, we may see a consolidation phase or a short-term bounce towards 350. A break below 340, however, would expose prior support at 317.30 and 304.00. While the broader bias remains heavy, stabilisation near key support and moderating momentum could limit further downside in the immediate term.
Ldn 2nd Month Coffee Futures
London coffee opened higher on Thursday but struggled to hold at higher levels, settling at 4896 after testing the 5000 resistance level. The recent decline through the 10-, 40-, and 100-day moving averages (5126–5283) has weakened short-term structure, but yesterday’s bounce signals tentative buying interest near support. Stochastics are in oversold territory and beginning to flatten, suggesting selling pressure may be tapering off. MACD remains deep in negative territory but is beginning to stabilise, indicating a possible pause in the recent downtrend. A close above 5000 today would help shift near-term sentiment and open the path toward 5126, with stronger resistance around 5369. On the downside, a break below 4800 would expose 4664, with 4338 as a deeper target. While the broader trend remains fragile, early signs of base-building near support hint at a potential short-term consolidation phase.
NY 2nd Month Cocoa Futures
NY cocoa futures held their nerve on Thursday, settling at 8074 after failing to hold gains above the 8300 handle. The close confirms a rejection below both the 10- and 40-day moving averages (8300 and 8582), reinforcing near-term downside pressure. Stochastics are falling, with %K slipping toward the oversold band, hinting at growing downside momentum. Meanwhile, the MACD diff is positive and converging, indicating momentum remains weak but is still accelerating to the downside. Today’s session could prove pivotal—if futures break below the recent low at 8070 and move toward 7800, attention will shift to the key support at 7336. On the upside, bulls would need a daily close above 8300 to re-establish short-term recovery potential. Until then, momentum remains tilted to the downside.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures stabilised modestly on Thursday, closing at 5994 after failing to retake the 10 DMA at 6240. The market held above the recent low of 5779, but upside momentum remains fragile. Stochastics are rising from oversold territory, suggesting early signs of stabilisation and possible near-term consolidation. The MACD diff is beginning to flatten, hinting at a slowdown in downside momentum rather than a full reversal. The 6000 level now acts as immediate resistance, and a daily close above it would be needed to reignite bullish sentiment and open the way towards 6240 and potentially 6518. On the downside, support is seen at 5779, followed by 5359, a key level that would confirm a return to bearish territory if breached. Today’s price action will be crucial in assessing whether the bounce can be sustained or if further losses are likely. For now, momentum is neutralising, with early signs of tapering off from oversold levels.
