NY 2nd Month Sugar Futures
NY sugar futures firmed on Friday, closing at 18.18 and pushing above the psychological 18.00 level. The move brought prices slightly above the 10 DMA at 17.81, suggesting early signs of stabilisation, though the contract remains capped by the 40 DMA and 100 DMA, both aligned at 18.47. Stochastics have risen sharply (%K at 59.97), reflecting improving short-term momentum, while MACD diff is marginally negative but flattening, indicating a potential shift towards neutral momentum. A close above 18.47 would strengthen the recovery and expose upside targets at 18.77 and 19.21. On the downside, a failure to sustain gains above 18.00 would leave the market vulnerable to renewed pressure towards support at 17.70 and 16.64. While broader trends remain soft, improving momentum and a close above the 10 DMA offer scope for near-term consolidation.
Ldn 2nd Month Sugar Futures
London sugar futures edged higher on Friday, settling at 503.80 but failing to reclaim key resistance at 512.60. The contract remains trapped below all major moving averages—the 10 DMA at 497.36, the 40 DMA at 517.14, and the 100 DMA at 515.24—which continue to weigh on the upside. Stochastics are trending higher (%K at 43.29), suggesting momentum is improving from oversold conditions, while the MACD diff remains negative but is beginning to converge, pointing to weakening bearish momentum. A decisive close above 512.60 would confirm a short-term base and open the way towards 540.20. Conversely, failure to break through resistance would keep pressure on support at 493.80, with a break lower exposing 464.00. Although broader dynamics remain bearish, strengthening stochastics and flattening MACD hint at the potential for stabilisation if key resistance levels can be overcome.
NY 2nd Month Coffee Futures
NY coffee futures continued to build upward momentum on Friday, closing at 399.85 after decisively breaking above resistance around the 381.40 level. The move confirmed a bullish continuation, with the contract now trading comfortably above all key moving averages—the 10 DMA (374.73), the 40 DMA (377.93), and the 100 DMA (359.12)—which now act as support. Stochastics have entered overbought territory (%K at 86.21), suggesting that while bullish momentum remains strong, the market may soon enter a consolidation phase. Meanwhile, the MACD diff is positive and widening, reinforcing the bullish bias. Immediate resistance lies at 400.00, followed by a stronger barrier at 417.00. On the downside, first support is seen at 381.40, with the 40 DMA providing further backing. Overall, momentum indicators and price action point to a strong bullish trend, although overbought signals may warrant caution near key resistance levels.
Ldn 2nd Month Coffee Futures
London coffee futures edged higher on Friday, settling at 5415 and extending the recovery from early April lows. The contract is now approaching a key resistance zone, trading just below the 5369 level and the 40 DMA (5350), with the 100 DMA (5302) now providing underlying support. The 10 DMA (5264) has also turned higher, offering additional support and suggesting that bullish momentum is gaining traction. Stochastics have moved deep into overbought territory (%K at 87.23), indicating that upside momentum remains strong but could be nearing exhaustion. The MACD diff has turned positive, supporting the recovery narrative. A clear close above 5369 would open the way for a test of stronger resistance at 5569. On the downside, initial support is seen at 5300–5260, with a break below the 10 DMA needed to question the current bullish structure. While price action is constructive, overbought conditions highlight the risk of near-term consolidation before further gains.
NY 2nd Month Cocoa Futures
NY cocoa futures extended their rally on Friday, settling at 9392 after a strong rebound from the recent lows near 8000. The contract closed above the cluster of moving averages, with the 10 DMA at 8605, the 40 DMA at 8310, and the 200 DMA at 8387, suggesting a shift in short-term momentum. Prices are now approaching key resistance at 9542, with a decisive break needed to confirm further upside toward 10779. Stochastics continue to climb (%K at 81.12), indicating strengthening bullish momentum, although nearing overbought territory. The MACD diff remains positive and is widening, reinforcing the improving momentum backdrop. On the downside, immediate support lies around the cluster of moving averages between 8600–8380, with a break below exposing the 7336 and 6720 levels. While momentum indicators are supportive of further gains, overbought signals could warrant some consolidation before a sustained move higher.
Ldn 2nd Month Cocoa Futures
London cocoa futures advanced further on Friday, closing at 6531 and marking a strong continuation of the recovery from the March lows. The contract managed to close just above the 200 DMA at 6522, with the 10 DMA (6157) and 40 DMA (6327) now acting as support zones. A sustained close above 6518 would reinforce the bullish breakout and open the way for a test of the 7348 resistance level. Stochastics are rising (%K at 71.50) and have not yet reached overbought territory, supporting the case for further upside. Meanwhile, the MACD diff has turned positive and is expanding, highlighting strengthening bullish momentum. On the downside, a failure to hold above the 200 DMA would bring the 6150–6100 area back into focus, followed by stronger support around 5359. For now, technical indicators are aligned to the upside, with the break above key moving averages suggesting that the recovery could extend if resistance levels are cleared.
