NY 2nd Month Sugar Futures
NY sugar futures closed marginally higher on Thursday at 17.12, continuing to consolidate around the cluster of short- and medium-term moving averages. The stochastics are neutral, with %K/%D drifting sideways near 38, while the MACD diff is flat around zero, reflecting the absence of clear directional momentum. To confirm further downside, futures need to break below the 16.64 support, which could trigger a test of 16.00. On the upside, resistance at 18.00 remains critical, and a close above this level would target 19.49. The recent sequence of narrow-bodied candles highlights indecision, with futures waiting for a catalyst to define the next move.
Ldn 2nd Month Sugar Futures
London sugar futures firmed on Thursday, closing at 480.70 as prices edged above the 40 and 100 DMA levels at 470.36 and 476.78, respectively. The stochastics are rising, with %K/%D pushing higher through mid-70s, while the MACD diff is positive and diverging, reinforcing the upside bias. To confirm further gains, futures need to break through the resistance of 493.80, which could open the way towards 519. On the downside, a close below 464 would weaken momentum and expose 434.30. Recent candles show resilience above short-term averages, with the market building a cautiously bullish outlook.
NY 2nd Month Coffee Futures
NY coffee futures softened on Thursday, settling at 377.50 after retreating from recent highs near 381.40. The stochastics are firmly overbought, with %K/%D turning lower above 90, suggesting the rally is losing steam. The MACD diff is positive but flattening, indicating that upside momentum may be peaking. A break below the 10 DMA at 362.89 would confirm a corrective move and expose the 100 DMA at 338.05. Conversely, a close back above 381.40 would extend bullish momentum towards 407.90. The latest candle shows rejection at overhead resistance, hinting at profit-taking and the potential for short-term retracement unless support holds firm.
Ldn 2nd Month Coffee Futures
London coffee futures extended their rally on Thursday, settling at 4,808 as strong bullish momentum carried prices well beyond the 10 and 40 DMA levels. The stochastics remain deeply overbought, with %K/%D diverging near 95, while the MACD diff is firmly positive and still widening, pointing to strong upside momentum. Immediate resistance stands at 5,369, with 5,569 beyond that as a key target. On the downside, a pullback below 4,664 would be needed to test the 4,425 support. A string of long-bodied bullish candles underscores robust buying appetite, though overbought conditions suggest growing risks of a short-term correction.
NY 2nd Month Cocoa Futures
NY cocoa futures eased on Thursday, closing at 7,813 after failing to hold above the 10 DMA at 7,922. The stochastics are low, with %K attempting to turn up but still trading below %D, while the MACD diff is negative and diverging, signalling ongoing downside pressure. To confirm further weakness, futures need to break below 7,336, which would open the way towards 6,720. On the upside, a recovery above the 40 DMA at 7,866 would be required to stabilise sentiment and retarget resistance at 9,070. Repeated failures around the short-term averages underline the prevailing bearish bias, with the market struggling to attract strong buying interest.
Ldn 2nd Month Cocoa Futures
London cocoa futures softened on Thursday, closing at 5,344 after struggling to hold above the 5,359 support area. The stochastics are drifting lower, with %K below %D near 30, and the MACD diff is negative and diverging, signalling that downside momentum persists. To confirm further weakness, futures need to close below 5,235, which could trigger a move towards 4,489. On the upside, a recovery above 5,518 would be required to shift sentiment and open the path to 6,518. Recent candles show consolidation below short-term averages, reinforcing a cautious bearish tone unless prices reclaim higher ground.
