NY 2nd Month Sugar Futures
NY sugar futures edged lower on Friday, closing at 17.01 as prices consolidated just above the key support of 16.64. The stochastics are drifting down, with %K/%D easing around the mid-30s, while the MACD diff is flat and marginally negative, signalling indecision. To confirm further downside, futures need to close below 16.64, opening the way towards 16.00. On the upside, a break above the 18.00 resistance would strengthen momentum and target 19.49. Narrow-bodied candles around the moving averages point to stalling momentum, with a decisive breakout still required to define the short-term trend.
Ldn 2nd Month Sugar Futures
London sugar futures were muted on Friday, closing at 5302 as prices struggled to hold above the 10 DMA at 5414. The stochastics are weak, with %K/%D edging lower near oversold, while the MACD diff is negative and diverging, reinforcing the bearish outlook. To confirm further downside, futures need to close below 5235, which would pave the way towards the 4489 support. On the upside, a recovery above the 40 DMA at 5372 would be required to ease the bearish bias and open the path towards 6518. Recent candles show rejection at short-term averages, suggesting that sentiment remains fragile.
NY 2nd Month Coffee Futures
NY coffee futures rebounded on Friday, closing at 386.10 as prices pushed back towards resistance at 381.40. The stochastics remain deep in overbought territory, with %K/%D above 90, though the lines are starting to flatten, suggesting momentum may be stretched. The MACD diff is positive and widening, confirming near-term buying pressure. To confirm further gains, futures need to break and hold above 381.40, which could pave the way towards 407.90 and 426.70. On the downside, support at the 10 DMA at 368.08 remains critical, with a close below this level likely to trigger a retracement towards the 100 DMA at 338.49. Strong candles in recent sessions highlight firm buying appetite, but overbought signals warn of potential corrective moves.
Ldn 2nd Month Coffee Futures
London coffee futures were muted on Friday, closing at 4815 after a strong rally through the key moving averages. The stochastics remain heavily overbought, with %K/%D above 90, while the MACD diff is firmly positive and diverging, highlighting sustained upside momentum. To confirm further gains, futures must hold above 4664 support, with the next upside target at 5369. On the downside, a close below the 10 DMA at 4512 would suggest fading momentum and expose the 40 DMA at 3694. Long-bodied bullish candles emphasise strong buying appetite, but the overbought signals point to the risk of a near-term correction.
NY 2nd Month Cocoa Futures
NY cocoa futures softened on Friday, settling at 7,710 as prices slipped below the 10 DMA at 7,866. The stochastics are weak, with %K/%D falling towards oversold, while the MACD diff is negative and diverging, reinforcing the downside bias. A break below support at 7,336 would confirm the bearish outlook and open the way towards 6,720. On the upside, a close back above the 40 DMA at 7,856 would be needed to ease selling pressure and target 9,080. Recent candles show rejection around short-term averages, underlining the prevailing weakness in sentiment.
Ldn 2nd Month Cocoa Futures
London cocoa futures softened slightly on Friday, closing at 478.40, consolidating just above the 100 DMA at 475.86. The stochastics remain elevated, with %K/%D diverging near 73, while the MACD diff is positive but flattening, hinting at waning momentum. To confirm further gains, futures need to close above 493.80, which would open the way towards 519. On the downside, a break below 464 would expose the 434.30 support. The recent candles show steady support around the moving averages, leaving the market cautiously constructive but needing a breakout above resistance to sustain upside.
