NY 2nd Month Sugar Futures
NY sugar futures softened slightly on Thursday, closing at 17.85 and slipping back below the 10 DMA (17.88) after failing to build on Tuesday’s gains. The contract continues to trade beneath the 40 DMA (18.49) and 100 DMA (18.49), highlighting persistent resistance overhead. Momentum indicators remain fragile—stochastics are edging higher but remain subdued (%K at 41.14), while the MACD diff is negative and showing only marginal convergence. A break back above 18.00 would help restore upward momentum and pave the way toward resistance at 18.77 and 19.21. On the downside, a failure to hold above the recent floor at 17.70 would expose deeper support at 17.39, followed by the key level at 16.64. For now, the short-term bias is neutral, with limited follow-through suggesting indecision as the market hovers near recent lows.
Ldn 2nd Month Sugar Futures
London sugar futures edged lower on Thursday, settling at 496.00 and failing to retake the 10 DMA (496.86), which continues to cap short-term upside. The contract remains firmly below the 40 DMA (518.00) and 100 DMA (515.67), underscoring a bearish medium-term structure. Stochastics have turned modestly higher (%K at 30.80), hinting at a potential slowdown in selling pressure, while the MACD diff remains negative at -2.95 but is gradually converging. Immediate support lies at 493.80, with a break below this level opening the path toward $64.00. On the upside, a close above 500 would offer the first sign of stabilisation, with stronger resistance at 512.60 and 519.00. Overall, momentum remains weak, and price action continues to reflect a fragile tone unless key resistances are reclaimed.
NY 2nd Month Coffee Futures
NY coffee futures extended their upward move on Thursday, settling at 398.80 and posting a third consecutive gain as the contract pushes toward the psychological 400.00 level. The rally lifted prices firmly above the 10 DMA (368.91) and 40 DMA (377.28), signalling renewed bullish momentum. The 100 DMA (358.30) is now providing a firm base. Stochastics continue to climb, with %K at 86.87, entering overbought territory, while MACD diff has turned positive for the first time since early March, offering confirmation of strengthening trend dynamics. A close above 400.00 would open the path towards resistance at 418.00 and 433.30. On the downside, support is seen at 381.40, with the broader channel base near 368.00 offering additional protection. The trend has turned decisively positive, with momentum and structure aligning to favour further upside in the near term.
Ldn 2nd Month Coffee Futures
London coffee futures extended their advance on Thursday, closing at 5427 and securing a third consecutive daily gain. The contract has now broken decisively above the 10 DMA (5202) and the 100 DMA (5302), confirming short-term upward momentum. Prices are now testing the 40 DMA at 5350, which may transition into support if the move holds. Stochastics remain in bullish territory (%K at 86.81), indicating strong upward momentum, though nearing overbought conditions. The MACD diff is still negative but continues to converge, reinforcing the signal of moderating bearish pressure. A close above 5369 would open the path towards stronger resistance at 5569, while a retreat below 5300 would neutralise the breakout and bring support levels at 5120 and 493.80 back into focus. Overall, the tone is improving, with prices reclaiming key moving averages and technical momentum aligning to support further near-term upside.
NY 2nd Month Cocoa Futures
NY cocoa futures extended gains on Thursday, settling at 9131 and marking a close above the critical 200 DMA (8381) and the 10 DMA (8473), signalling a short-term shift in momentum. The move now brings the contract into a key resistance zone between the 40 DMA at 8307 and horizontal resistance at 9542. Stochastics are rising, with %K at 74.83, suggesting improving bullish momentum as the market rebounds from oversold conditions. Meanwhile, MACD diff remains negative but is steadily converging, indicating weakening downside pressure. A decisive break above 9542 would confirm a medium-term recovery and open the way toward 10779. On the downside, a failure to hold above the cluster of moving averages would signal vulnerability to a retest of 8300 and 8000. For now, improving momentum and the reclaiming of key technical levels point to ongoing consolidation, with a cautiously bullish near-term bias.
Ldn 2nd Month Cocoa Futures
London cocoa futures edged higher on Thursday, closing at 6423 and extending their recovery from the recent low at 5779. The contract is now testing the cluster of moving averages, with the 10 DMA at 6114 and the 40 DMA at 6350 now acting as support following the close above both. The 100 DMA (6525) stands as the next resistance, along with horizontal resistance at 6518. Stochastics have continued to climb, with %K at 63.59, pointing to sustained upward momentum. Meanwhile, MACD diff remains in deeply negative territory but is converging, reflecting a moderation in bearish momentum. A close above the 100 DMA would confirm the upside breakout and expose higher levels at 7348 and 7820. On the downside, failure to hold above 6350 would bring 6114 and 5779 back into focus as key supports. Price action is showing constructive signs, with strengthening momentum and a potential bullish reversal building above the short-term averages.
