NY 2nd Month Sugar Futures
NY sugar futures extended their slide on Friday, closing at 16.57 and punching a fresh marginal low beneath the 17.00 handle. The contract remains firmly under pressure, trading below every major moving average: the 10-day SMA at 16.90, the 40-day at 17.47 and the 100-day at 18.11. Stochastics stay deeply oversold, with %K at 11.8 and %D at 15.3, hinting that downside momentum could soon start to taper off as price approaches the long-standing floor at 16.64. MACD diff is still negative but little changed, showing that bearish momentum is persisting rather than accelerating. Immediate resistance is the 10-day average; a close back above that level would be the first signal of stabilisation and would bring the 40-day average and the 18.00 congestion band into view. Until then, pressure stays skewed lower, with a decisive break through 16.64 opening the way toward the mid-16.00s. Oversold readings argue for caution chasing weakness, but the bears remain in control unless the market can reclaim short-term averages.
Ldn 2nd Month Sugar Futures
London sugar futures eased again on Friday, finishing at 459.50 and chalking up a red candle that kept prices anchored just under the 10-day SMA at 464.47. The market continues to trade well below the 40-day SMA at 481.67 and the 100-day SMA at 503.10, leaving the broader tone decidedly soft. %K is lodged in oversold territory at 16.8 and beginning to lean sideways against %D (19.3), signalling that downside momentum is starting to flatten. The MACD diff is negative but only fractionally wider, echoing the idea of a slowing bearish pulse. The key support band remains the recent spike-low at 457.80 and the horizontal floor at 464.00; a clear break below that zone would expose 440.00. On the upside, a daily close back above the 10-day average would relieve immediate pressure and set the stage for a test of 493.80, with the 40-day SMA capping further gains for now. While sellers still hold the advantage, the combination of oversold stochastics and stabilising momentum hints that price could start consolidating unless support gives way decisively.
NY 2nd Month Coffee Futures
NY coffee futures firmed on Friday, printing a small green candle at 346.00. The bounce held the long-term up-trend line that joins the September, March and late-May lows, but spot remains capped by the short-term averages. Momentum gauges show early signs of stabilisation rather than outright strength. Slow %K has lifted to ≈36 and is turning toward % D (≈40), hinting at a tentative uptick from mid-range levels. The MACD histogram continues to contract, and the MACD–signal spread has edged closer to flat, pointing to fading downside pressure. The 10-day average is first resistance; a daily settlement above it would open a move toward the 40-day SMA and the horizontal band at 381.40. On the downside, a clear break back below the trend-line (and last week’s 341 area lows) would refocus attention on broader support near 314.75. For now, the market is trying to carve out a base above structural trend support, but further closes above the 10-day average are needed to confirm a turn.
Ldn 2nd Month Coffee Futures
London coffee futures slipped on Friday, closing at 4287 and extending the shallow down-trend that has persisted since early May. The contract remains capped by all key moving averages, with the 10 DMA at 4353 offering the first layer of resistance, followed by the 40 DMA at 4903 and the 100 DMA at 5 239. Stochastics are stuck near the mid-20s and have flattened, indicating downside momentum is no longer accelerating but has yet to unwind meaningfully. The MACD diff is still negative, though the gap between the MACD and signal lines narrowed slightly last week, signalling the move lower is losing force. Price continues to hover just above the primary support band at 4338; a decisive close beneath this floor would open the way toward the April 2023 base at 3938. On the topside, the market must re-establish trade above the 10 DMA to stabilise, with a close over 4664 needed to suggest a fuller retracement toward the moving-average cluster. Until that occurs, the broader tone remains weak, with oversold momentum readings hinting at consolidation rather than an immediate reversal.
NY 2nd Month Cocoa Futures
NY cocoa futures fell on Friday, ending at 8952 with a clear red candle that slipped back under the 10 DMA at 9179 and the 40 DMA at 9248 while still holding above the 200 DMA at 8734. The pull-back keeps the market locked in the broad 8700-9540 range that has contained trade since March. Stochastics have rolled lower again, with %K settling near the low-40s, showing momentum fading from mid-field rather than from overbought territory. The MACD diff remains negative and has widened modestly over the past two sessions, signalling that downside pressure is rebuilding, though not yet accelerating. Immediate support sits at the 200 DMA and the up-sloping trend-line that catches the April and May lows; a break below this band would expose the wider 7336 floor. On the topside, the 10 DMA is first resistance, followed by the cluster at 9540. For now the bias is neutral-to-soft: price is mid-range, momentum has turned lower, and the bulls need a quick close back above the short-term averages to prevent a deeper retracement toward the long-term moving average.
Ldn 2nd Month Cocoa Futures
London cocoa futures also closed lower on Friday at 6228, printing a red candle that left the contract below all key moving averages: the 10 DMA at 6408, the 40 DMA at 6552, and the 200 DMA at 6700. Last week’s inability to sustain trade above the 40 DMA now tilts the near-term tone back to the downside. Stochastics have slipped to the high-20s and are beginning to flatten, suggesting momentum is soft but approaching levels where downside could start to tire. The MACD diff remains firmly negative and has edged wider this week, reflecting ongoing bearish pressure. Initial support is the recent swing-low area around 6100-6000; a decisive break would open the path toward 5359. On recovery attempts the 10 DMA is the first hurdle, with a close above the 40 DMA needed to stabilise the picture and reopen 6518. Until that happens the structure stays weak, with oversold momentum readings hinting more at sideways consolidation than at a meaningful rally.
