NY 2nd Month Sugar Futures
NY sugar futures slipped again on Friday, closing at 17.83 and extending their decline below the psychological 18.00 handle. The contract remains under pressure, trading beneath all major moving averages, with the 10 DMA at 18.49 and the 100 DMA at 18.69 acting as nearby resistance. Stochastics remain deeply oversold (%K at 10.92), which could indicate the price is nearing exhaustion to the downside, with potential for stabilisation around the recent floor at 17.71. MACD diff is still negative and marginally declining, suggesting that bearish momentum remains in place but is not intensifying further. A break below 17.71 would expose further downside towards 17.30 and potentially the 16.64 support level. On the upside, a recovery back above 18.00 would ease pressure and open the way for a retest of resistance around the 10 DMA. While the broader trend remains soft, oversold conditions and flattening momentum could lead to some consolidation or a short-term bounce.
Ldn 2nd Month Sugar Futures
London sugar futures declined further on Friday, settling at 503.50 and marking a second consecutive close below key support at 512.60. The contract now sits just above the critical floor of 493.80, which has previously held as a base. Price action remains bearish, with futures trading well below the 10 DMA at 520.35 and the 100 DMA at 519.57, both of which continue to weigh on upside attempts. Stochastics are oversold (%K at 13.23) and beginning to flatten, suggesting that downside momentum may be slowing, especially as the market approaches key support. The MACD diff is negative and gradually widening, indicating persistent but not accelerating bearish pressure. A break below 493.80 would confirm the bearish continuation and expose deeper levels at 464.00. Conversely, a close back above 512.60 would be the first sign of stabilisation, with further resistance at 519.00 and 540.20. For now, momentum remains negative, but oversold signals and proximity to support suggest a potential for near-term consolidation.
NY 2nd Month Coffee Futures
NY coffee futures extended gains on Friday, closing at 353.60 after rebounding off the 200 DMA at 340.09. The recovery brought the contract just above the key 100 DMA at 352.26, suggesting short-term stabilisation after last week's weakness. Prices now face resistance at the 10 DMA (361.01), while support remains firm at the 200 DMA. Momentum indicators are showing early signs of improvement—stochastics are emerging from oversold territory (%K at 30.08), indicating that downside pressure may be starting to ease. The MACD diff remains negative but is beginning to flatten, hinting at a potential slowdown in bearish momentum. A close above the 10 DMA today would reinforce the case for short-term recovery, opening the way toward 371.00 and 381.40. On the downside, a break back below 340 would signal renewed weakness and expose prior support levels at 317.30 and 304.00. For now, price action suggests a tentative base is forming above the 200 DMA, with momentum beginning to neutralise.
Ldn 2nd Month Coffee Futures
London coffee futures posted a modest recovery on Friday, closing at 5049 after finding support near the 4664 level. While still trading below all key moving averages—the 10 DMA at 5095, 40 DMA at 5405, and 100 DMA at 5287—Friday’s rally indicates potential for short-term consolidation. Stochastics have turned higher from oversold territory (%K at 32.74), suggesting that the recent selling pressure may be tapering off. Meanwhile, MACD diff remains deep in negative territory but is beginning to converge, pointing to a possible deceleration in downside momentum. To build on this rebound, futures would need to close above 5100 to test stronger resistance at 5283 and 5369. On the downside, a break below 4800 would reopen the path toward key support at 4664 and 4338. Overall, the structure remains fragile, but signs of stabilisation are emerging, particularly if prices can hold above recent lows and reclaim short-term moving averages.
NY 2nd Month Cocoa Futures
NY cocoa futures extended gains on Friday, settling at 8440 after rebounding from the recent lows near 8000. The contract is now challenging the cluster of resistance formed by the 10 DMA (8343), the 200 DMA (8347), and the 40 DMA (8530). A sustained break above this zone could reinforce the recovery and open the path toward 9064, the 38.2% Fibonacci retracement level of the December–March decline. Stochastics are rising but remain below 50 (%K at 35.43), suggesting some recovery in momentum, though not yet strong. Meanwhile, the MACD diff remains negative but is converging, pointing to a slowdown in bearish momentum. On the downside, a failure to hold above 8300 could prompt renewed selling pressure, with support at 8000 and 7336 remaining critical levels. While the broader trend is still fragile, recent price action and improving momentum indicators suggest the potential for further near-term consolidation or rebound.
Ldn 2nd Month Cocoa Futures
London cocoa futures closed higher on Friday at 6207, marking a second day of gains as the contract continues its recovery from the recent low of 5779. The move brought prices back above the psychological 6000 threshold and closer to the 10 DMA at 6236. A decisive close above the 10 and 40 DMAs (6236 and 6627, respectively) would be needed to confirm a shift in momentum and open upside targets toward 6518 and 7348. Stochastics are climbing from oversold levels (%K at 37.51), hinting at growing upward momentum. The MACD remains in deep negative territory but has flattened and shows early signs of convergence, indicating bearish pressure may be easing. For now, the recovery appears tentative. A failure to build on these gains would bring the 6000 level back into focus as immediate support, followed by 5779 and 5359. Momentum is stabilising, but further confirmation above key resistance levels is needed to shift the bias more decisively to the upside.
