NY 2nd Month Sugar Futures
NY sugar futures drifted lower on Thursday, closing at 16.70 with a small red candle that edged the market closer to the key floor at 16.64. Price action remains firmly capped by the moving averages: the 10 DMA at 16.96 now represents first resistance, while the 40 DMA at 17.50 and the 100 DMA at 18.11 continue to define the broader down-trend. Stochastics sit in deep oversold territory (%K near 15.2) and are beginning to flatten, hinting that selling pressure may be losing momentum. The MACD diff is only –0.03 and has held steady for several sessions, signalling a pause rather than fresh bearish acceleration. Immediate focus is on whether support at 16.64 can hold; failure here would expose the next psychological objective at 16.00. Conversely, a recovery through the 10 DMA would be the first indication of near-term stabilisation, opening scope for a test of 17.15–17.50. For now, the trend bias stays soft, but oversold oscillators and a flattening MACD suggest scope for consolidation.
Ldn 2nd Month Sugar Futures
London sugar futures slipped on Thursday, settling at 460.70 with a red candle that pushed the market just below the long-standing 464.00 support band. The contract continues to trade beneath all major moving averages—10 DMA at 465.82, 40 DMA at 482.63, and 100 DMA at 503.23—underscoring a persistent bearish backdrop. Stochastics remain oversold (%K around 21.3) and have started to level out, implying that downside momentum is beginning to taper. The MACD diff has narrowed to –0.23 as the MACD and signal lines converge, reflecting a moderation in bearish drive rather than fresh weakness. If prices cannot reclaim 464.00 quickly, the recent spike low at 457.80 becomes the next reference; a decisive close beneath that level would target the 440.00 area. On the upside, a close back above the 10 DMA would ease immediate pressure and invite a retest of 482.63 and 493.80. Until such a move materialises, the market remains vulnerable, though momentum signals argue for the likelihood of near-term consolidation rather than an acceleration lower.
NY 2nd Month Coffee Futures
NY coffee futures slipped on Thursday, finishing at 345.30. The move nudged the market back under the 10 DMA at 348.31, while price still hovers just above the long-term up-trend line drawn off the October lows. All the higher moving averages remain overhead—the 40 DMA at 370.12 and the 100 DMA at 375.16—leaving the broader structure under pressure. Stochastics are mid-range but curling higher (%K ≈ 39.9), hinting that downside momentum is stalling. The MACD diff has turned marginally positive around 0.46 as the MACD line climbs toward the signal line, showing early convergence rather than fresh bearish acceleration. A close back above the 10 DMA would be the first sign of renewed stabilisation, opening scope for a test of 362–370 and the 381.40 horizontal barrier. If the contract slips beneath the rising trend line and the recent pivot near 340, focus would revert to deeper support at 314.75.
Ldn 2nd Month Coffee Futures
London coffee futures managed a small recovery on Thursday, settling at 4314 with a green candle after bouncing from the 4260 area earlier in the week. Even so, price remains capped by the 10 DMA at 4371 and sits well below the 40 DMA at 4926 and the 100 DMA at 5247, keeping the medium-term tone weak. Stochastics are emerging from oversold territory (%K ≈ 20.8) and beginning to rise, suggesting that downside momentum is fading. MACD diff is still negative at about –7.21 but has narrowed for several sessions, signalling that bearish pressure is flattening rather than intensifying. Immediate resistance lies at the 10 DMA, followed by the former breakdown level at 4664. On the downside, the band between 4338 and the recent low near 4260 remains key support; a break there would expose 4000–3900. For now, the market is trying to carve out a base, but confirmation requires a daily close back above the 10 DMA to relieve short-term selling pressure.
NY 2nd Month Cocoa Futures
NY cocoa futures declined on Thursday, finishing at 9030 with a red candle that slipped back beneath both the 10 DMA at 9148 and the 40 DMA at 9169, while still holding above the 200 DMA at 8716. This keeps the contract inside a broad consolidation band capped by resistance at 9542 and underpinned by support at 8700–8600. Stochastics ticked modestly higher (%K close to 51) but remain stuck in neutral territory, indicating only a tentative recovery in momentum. The MACD diff is still negative at roughly –56 and has narrowed over the last few sessions, suggesting downside pressure is fading rather than intensifying. A daily close back above the clustered short-term averages would restore positive near-term tone and reopen the door to 9 542. Failure to regain those levels would leave the market vulnerable to renewed tests of the 200 DMA and, below there, the wider support zone at 7336. For now, price action is range-bound, with stabilising momentum hinting at further consolidation rather than a decisive break.
Ldn 2nd Month Cocoa Futures
London cocoa futures edged lower on Thursday, settling at 1 064 with a small red candle after Tuesday’s and Wednesday’s sharp rally. Even with the pull-back the contract maintains a strong underlying structure, trading above all major moving averages: the 10 DMA at 1 031, the 40 DMA at 983, and the 200 DMA at 987. Stochastics remain elevated (%K around 81) and are beginning to flatten, signalling that upside momentum is cooling from overbought territory. The MACD diff is positive near 7.4 and has widened slightly this week, reflecting an up-trend that is still intact but no longer accelerating. Immediate support is the 10 DMA, with stronger demand expected in the 1 000–985 zone around the rising 40 DMA. A close below this band would suggest a deeper corrective phase, targeting the prior congestion near 960. On the upside, a push through Thursday’s high would confirm that buyers have re-asserted control and could extend the advance toward the mid-April peak. While the short-term move has paused, the alignment of moving averages and still-positive momentum keep the overall bias upward, with the current dip looking more like consolidation after a swift run-up than a trend reversal.
