NY 2nd Month Sugar Futures
NY sugar settled modestly firmer at 16.28, but the market continues to trade below the cluster of DMAs. The 10 DMA has flattened at 16.28 while the 40 and 100 DMAs at 16.74 and 16.97 remain overhead, reinforcing resistance. The candle was green but small, indicating limited momentum following prior downside pressure. Stochastics are rising from oversold, with %K at 35.9 edging above %D at 33.1, suggesting tentative stabilisation. MACD remains negative but the histogram shows marginal convergence. Immediate support is seen at 16.00, while confirmation above the 40 DMA would be needed to ease downside risks. Near-term tone remains heavy unless follow-through buying builds above moving average resistance.
Ldn 2nd Month Sugar Futures
London sugar staged a modest rebound, closing back above the 10 DMA at 453.82 after touching a low of 442.60 earlier in the week. The contract remains capped by the 40 DMA at 465.67, which has aligned as near-term resistance alongside the 464.00 horizontal level. Stochastics (%K at 34.53) are rising from oversold territory, while MACD remains negative though flattening, indicating some loss of downside momentum. A close above 464.00 would be needed to shift momentum higher, with support remaining at 434.30. Near-term trade remains cautious within a broad downtrend.
NY 2nd Month Coffee Futures
NY coffee closed at 351.45, consolidating just above the 40 DMA at 350.72 and the 100 DMA at 338.39. The 10 DMA at 370.94 has rolled lower, capping recent rallies. The candle was modestly positive but momentum remains fragile. Stochastics are weak, with %K at 18.1 below %D at 26.0, signalling pressure is not yet exhausted. MACD remains in negative divergence, though the histogram shows a slower pace of decline. A close above the 10 DMA would be required to revive near-term upside prospects, while support at 338 remains critical; failure there risks further losses toward 314. Broader trend bias is cautious.
Ldn 2nd Month Coffee Futures
London coffee extended its correction lower, breaking below 4,338 support and settling near the 40 DMA at 4,191. The 10 DMA at 4,396 has rolled over, with the 100 DMA at 4,114 now acting as a pivot. Stochastics (%K at 18.16) are nearing oversold levels, suggesting scope for stabilisation, though MACD continues to converge lower, underlining persistent weakness. A recovery above 4,338 is required to reassert upside momentum, otherwise a deeper retracement towards 3,241 cannot be ruled out. The broader structure remains fragile.
NY 2nd Month Cocoa Futures
NY cocoa extended its decline to 6956, printing a red candle that confirms pressure below the 10 DMA at 7216 and the 40 DMA at 7678. The 200 DMA remains far higher at 8939, underscoring the longer-term downtrend. Stochastics are deeply oversold, with %K at 14.8 below %D at 19.1, but no reversal signal is yet evident. MACD continues to diverge negatively, with the histogram widening. Horizontal support is now close at 6720; a break would risk further retracement, while initial resistance lies at 7336. Oversold conditions may encourage short-term stabilisation, but trend dynamics remain bearish while below key averages.
Ldn 2nd Month Cocoa Futures
London cocoa slipped slightly, closing beneath the 10 DMA at 5,025 and nearing key support at 4889. The contract remains below the 40 DMA at 5292 and the 200 DMA at 6615, underscoring the prevailing downtrend. Stochastics (%K at 12.50) are in oversold territory, while MACD continues to diverge negatively, though momentum is showing early signs of flattening. The 4889 level is critical to prevent a slide towards 4489, while resistance is layered at 5359. Price action suggests pressure remains dominant, with only limited signs of potential near-term stabilisation.
