NY 2nd Month Sugar Futures
NY sugar futures settled at 17.64 on Thursday, recovering from an intraday low of 17.19 but remaining capped below the key 18.00 resistance level. The contract continues to trade below all key moving averages, with the 10 DMA at 17.56, the 40 DMA at 18.32, and the 100 DMA at 18.26, all exerting downward pressure. Stochastics are gradually rising out of oversold territory, with %K at 34.04, suggesting that downside momentum is starting to ease. The MACD diff remains negative but is marginally converging (-0.26), hinting at early signs of stabilisation. A daily close above 18.00 would signal potential short-term consolidation and open the way toward the 40 DMA at 18.32, followed by resistance at 19.21. On the downside, key support lies at 16.64, the recent swing low. For now, while the broader trend remains bearish, signs of slowing momentum and a base forming near 17.20–17.30 suggest downside risks are beginning to moderate.
Ldn 2nd Month Sugar Futures
London sugar futures closed at 485.70 on Thursday, rebounding strongly from a low of 474.50 but still unable to reclaim the 493.80 resistance level. The contract remains decisively below all major moving averages, with the 10 DMA at 487.56, the 40 DMA at 512.42, and the 100 DMA at 510.25, reinforcing a bearish bias. Stochastics are attempting to turn higher from deeply oversold levels (%K at 21.72), hinting at reduced selling pressure. However, the MACD remains firmly negative and diverging (-9.70), suggesting that downside momentum, while stretched, remains in play. A close above 493.80 is needed to confirm a near-term recovery, with further resistance at 512.60 and 519.00. Conversely, failure to hold above 485 would leave the contract vulnerable to a retest of the April low at 464.00. While bearish momentum persists, oversold signals and Thursday’s bounce could lay the groundwork for short-term consolidation if follow-through buying emerges.
NY 2nd Month Coffee Futures
NY coffee futures closed at 387.35 on Thursday, gaining modestly on the day but stalling below the 10-day moving average at 393.01. Despite the rebound, the contract remains capped by overhead resistance at 407.90, with short-term price action caught between the 10 DMA and the 100 DMA (365.97). Stochastics are turning lower from overbought territory, with %K at 30.05, signalling a potential loss of upside momentum. Meanwhile, the MACD remains positive but is starting to flatten, suggesting that bullish momentum may be stalling. Immediate support is now seen at the 40 DMA (378.59), followed by the 381.40 level. A close below these would expose deeper support at the 100 DMA, and then 317.30. On the upside, a break and close above 407.90 would be required to reassert bullish control and target the recent high at 426.70. For now, momentum indicators are softening, and near-term direction hinges on whether support at 381.40 can hold.
Ldn 2nd Month Coffee Futures
London coffee futures settled at 5265 on Thursday after finding support near 5217, but upside gains were limited by resistance at 5369. The contract remains rangebound, oscillating between the 100 DMA at 5328 and the 10 DMA at 5310. While price action remains broadly sideways, stochastics are gradually rising from neutral levels, with %K at 38.75, suggesting a tentative improvement in momentum. The MACD diff has turned positive (3.38), supporting a potential shift in near-term bias toward the upside. A close above 5369 would open the path to 5569, while further gains could target the November high. On the downside, support rests at 5000, with more significant levels at 4664 and 4338. Momentum is beginning to stabilise, but a breakout from the current consolidation zone is needed to confirm directional intent.
NY 2nd Month Cocoa Futures
NY cocoa futures closed at 9068 on Thursday, slipping below the 9100 handle after an early test of resistance at 9274. The contract remains above key moving averages, with the 10 DMA at 8944 and the 40 DMA at 8428 offering near-term support, indicating a still-supportive structure despite Thursday’s pullback. Stochastics remain constructive, with %K at 56.07, maintaining a gentle upward slope and suggesting that bullish momentum remains intact. The MACD diff is positive and widening (30.96), reflecting continued upside pressure. A close above 9274 would open the way for a test of the major resistance at 9542, followed by 10779. On the downside, initial support lies at the 10 DMA, with a deeper floor at 8428. While the broader trend remains firm, Thursday’s rejection above 9200 suggests some consolidation may be needed before bulls can resume their advance.
Ldn 2nd Month Cocoa Futures
London cocoa futures settled at 6576 on Thursday, paring earlier gains after stalling just below the 6814 intraday high. The contract closed above the 100 DMA at 6539 and remains well-supported by the 10 DMA (6442) and 40 DMA (6268), signalling a strengthening short-term outlook. Stochastics are firmly bullish, with %K at 73.84 and trending higher, indicating strong upside momentum. The MACD diff has turned sharply positive (65.67), reinforcing the near-term bullish bias. A sustained close above 6614 would confirm a breakout, exposing higher resistance at 7000 and 7348. Conversely, support now lies at the 6518 breakout level, followed by 6268. Overall, momentum indicators suggest that bulls are in control, and further gains are likely as long as price holds above the moving average cluster.
