NY 2nd Month Sugar Futures
NY sugar slipped on Thursday, printing a red candle and closing back below the 10-DMA at 17.06. The setback leaves the contract hovering just above the 40-DMA at 16.86 and horizontal support at 16.64, muting the upward momentum seen earlier in July. Stochastics have rolled lower, with %K easing to 39, and the MACD histogram has dipped marginally negative (Diff –0.005), together indicating that bullish pressure is stalling. The 100-DMA at 17.62 remains the primary topside hurdle; only a daily close above that level would revive the recovery and target 18.00, then 19.49. While prices hold above 16.64, the market is likely to remain range-bound between 17.62 and 16.64; a decisive break beneath 16.64 would confirm a loss of support and re-expose the June low.
Ldn 2nd Month Sugar Futures
London sugar eased for a second session on Thursday, slipping back below the 10-DMA at 465.56 and the 40-DMA at 467.00 to close just above horizontal support at 464.00. The pull-back keeps short-term signals neutral-to-soft, with the 100-DMA at 488.35 still descending and capping medium-term upside. Momentum has weakened: the MACD diff has slipped further into negative territory at –0.98, while stochastics have rolled over from mid-range, with %K down to 30.9. A decisive recovery through 467.00 would steady the tone and re-open 493.80, but failure to defend 464.00 risks a deeper retreat towards the June low at 447.00 and, below, the key floor at 434.30.
NY 2nd Month Coffee Futures
Arabica eased again on Thursday, finishing just below the 10-DMA at 296.55 and maintaining a sequence of lower daily highs. The 40-DMA at 312.77 and the 100-DMA at 350.53 continue to slope lower, underscoring the broader down-trend. Momentum has softened: the MACD line is still negative and the diff has narrowed to 1.7, while stochastics have rolled over from mid-range (%K at 42). Initial support sits at 286.50, followed by the June low at 275.00. Bulls require a decisive recovery through 300.00 and, ultimately, 314.75 to suggest a more durable base. Absent that, the bias stays neutral-to-weak with risks skewed to a fresh test of the 280.00 area.
Ldn 2nd Month Coffee Futures
Robusta coffee closed marginally lower, holding just above the 10-DMA at 3298 and keeping alive the tentative basing formation that began mid-July. The contract remains well beneath the 40-DMA at 3656 and the 100-DMA at 4546, so the broader trend is still negative; however, early signs of stabilisation persist. MACD has continued to converge, with the diff now positive at 36.8, and stochastics are edging higher from oversold territory (%K 47.3). Immediate resistance is the 10-DMA, followed by the June reaction high at 3411; a close above these would confirm a short-term base and expose 3664. On the downside, support is layered at 3287 and 3241. A break beneath 3241 would undermine the fledgling recovery and renew the downward bias.
NY 2nd Month Cocoa Futures
NY cocoa rallied on Thursday, closing at 7741. The move decisively extended the July recovery, while holding well above the 10-DMA at 7524. Immediate focus now turns to the 40-DMA at 8336, the next major obstacle in the broader down-trend. Momentum indicators have improved: the MACD histogram has widened to +50, confirming fresh bullish pressure, and stochastics have pushed deeper into the upper band, with %K at 70.7 and %D at 58.2, indicating rising but increasingly overbought conditions. If prices can maintain traction above 7736, upside scope opens towards 8000 and then the 40-DMA at 8336. Failure to sustain the break, however, would risk a pull-back to 7530–7336, where the 10-DMA and recent consolidation floor provide the first layers of support. Only a close back under 7336 would undermine the current rebound and reexpose the 6720 reaction low. For the moment, the structure has turned short-term positive, though the contract must negotiate overbought signals and the descending 40-DMA to confirm a more durable shift in trend.
Ldn 2nd Month Cocoa Futures
London cocoa advanced on Thursday, closing at 5517 to retake the 5539 resistance area intraday before settling fractionally underneath it. The contract remains comfortably above the 10-DMA at 5269, while the 40-DMA at 5660 has started to flatten, hinting that the recent downside momentum is losing force. Stochastics are firmly overbought, with %K at 83.3 and %D at 74.2, warning of near-term fatigue, yet have not crossed lower. The MACD diff has improved further to –125, showing negative momentum continues to moderate, although a bullish crossover has yet to materialise. A daily close through 5539 would confirm a fresh leg higher and open the way toward the 40-DMA at 5660, followed by the 6518 congestion zone. Conversely, failure to sustain gains, especially on a break back below the 10-DMA at 5269, would flag a false break and risk a pull-back to the 5000–4880 support band. Only a decisive fall beneath 4880 would expose the March low at 4489.87. For now, the short-term bias remains positive, but overbought oscillators and nearby moving-average resistance suggest upside progress may slow without fresh buying interest.
