NY 2nd Month Sugar Futures
NY sugar extended its decline to settle at 16.16, another close below the 40 DMA at 17.02 and the 100 DMA at 17.16. The move produced a solid red candle, confirming downside momentum. The stochastics (%K at 9.95, %D at 17.97) are in oversold territory, though not yet signalling a turn. MACD remains negative and diverging, reinforcing weakness. With the 10 DMA (16.85) and 40 DMA now acting as overhead resistance, near-term risk stays skewed lower towards the 16.00 and 15.50 support zones. Only a close back above 17.00 would ease the immediate bearish tone.
Ldn 2nd Month Sugar Futures
London sugar settled lower at 4309, slipping for a fourth session and moving further away from the late-August highs. The 10 DMA (4605) has flattened, with price now holding below it, while the 40 DMA (3810) and 100 DMA (4241) remain clustered as medium-term reference points. Stochastics are declining, with %K at 27.7 and %D at 51.0, pointing to softening momentum. The MACD histogram has narrowed, with the diff at +32.5, signalling fading upside pressure. A close below 4241 would expose 4338, while only a recovery above 4664 would reassert bullish control. Near-term tone cautious with bias soft.
NY 2nd Month Coffee Futures
NY coffee barely changed, closing just under the 10 DMA at 376.93 after consolidating beneath the 381.40 resistance zone. The candle was mildly positive, reflecting hesitation after August’s strong rally. Stochastics are easing from overbought (%K at 58.69, %D at 74.32), hinting at waning upside momentum. MACD remains positive but has flattened, suggesting reduced follow-through. The 40 DMA (322.94) and 100 DMA (339.64) provide trend support, and holding above these levels keeps the medium-term bias constructive. A sustained break above 381.40 would open 407.90, but failure here risks a pullback towards 350.
Ldn 2nd Month Coffee Futures
London coffee edged lower to 5144, consolidating after its late August drift. Price remains capped beneath the 10 DMA (5278) and 40 DMA (5345), both trending lower, while the 200 DMA is distant at 6791, underscoring the broader downtrend. Stochastics sit in oversold territory, with %K at 11.4 and %D at 14.5, suggesting scope for stabilisation near support. The MACD diff is negative at -28.9, with the lines flat, reflecting ongoing pressure but limited momentum. Immediate support lies at 5000, with stronger levels at 4490. A move through 5359 is needed to ease downside risks.
NY 2nd Month Cocoa Futures
NY cocoa edged higher to 7471, but the session’s small-bodied green candle reflected indecision after recent losses. Prices remain below the 10 DMA (7687) and 40 DMA (7790), both of which continue to cap upside attempts. Stochastics (%K at 21.61, %D at 25.13) are edging along oversold levels without confirmation of a reversal. MACD remains negative and diverging, reinforcing ongoing downside pressure. Key support sits at 7336 and then 6720. Without a clear recovery above the short-term averages, the broader tone remains heavy, with risk for further weakness in the short term.
Ldn 2nd Month Cocoa Futures
London cocoa closed weaker at 460.40, extending its retreat from the August highs. The contract is now testing support at 464, with the 10 DMA (474.6) acting as nearby resistance, while the 40 DMA (470.3) and 100 DMA (474.4) are converging above. Stochastics have slipped, with %K at 23.0 and %D at 42.9, pointing to waning momentum after an overbought signal in late August. The MACD diff remains marginally positive at +0.04 but is flattening, signalling fading strength. A break below 460 would target 434, while recovery above 474 would be required to steady the tone.
