NY 2nd Month Sugar Futures
NY sugar futures extended the recent decline on Friday, closing at 14.48. The stochastics continue to fall, with %K/%D holding in oversold territory, and the MACD diff remains negative and diverging, reinforcing the downside bias. The price action continues to trade below the 10 DMA at 14.98 and the 40 DMA at 15.95, highlighting sustained downward momentum. To confirm further bearish continuation, futures would need to break below 14.40, opening the move towards 14.00. On the upside, resistance sits at 14.98 initially, with stronger confirmation required through a close back above the 40 DMA at 15.95. Until then, the indicators point to continued softness, with the near-term tone remaining weak while futures trade below the short-term averages.
Ldn 2nd Month Sugar Futures
London sugar futures weakened on Friday, closing at 425.20. The stochastics continue to fall, with %K/%D firmly in oversold territory, and the MACD diff remains negative and diverging, confirming persistent downside pressure. Price action continues to respect the broader downtrend, with futures trading below the 10 DMA at 436.18, 40 DMA at 452.70, and 100 DMA at 462.12, reinforcing the bearish tone. To confirm further downside, futures would need to break below the recent low at 424, which would open a move towards 410. On the upside, a close back above the 10 DMA at 436.18 would be the first signal of stabilisation, with further resistance at 434.30 and 452.70 (40 DMA).For now, momentum and trend both remain firmly lower, and we expect continued near-term weakness unless a clear reversal signal forms.
NY 2nd Month Coffee Futures
NY coffee futures eased on Friday, closing at 383.05. The stochastics have begun to roll lower, with %K crossing below %D, indicating a loss of short-term upside momentum. The MACD diff remains positive but is flattening, suggesting that while the broader constructive tone is still in place, the recent rally is losing momentum. Price action continues to hold above the 10 DMA at 381.31 and the 40 DMA at 373.18, maintaining the medium-term constructive bias. However, gains have repeatedly stalled below resistance at 393.01, and this level now needs to be decisively broken to reassert upward momentum, opening the path toward 407.90. On the downside, a failure to hold 373.18 (40 DMA) would signal a weakening of the recent structure, exposing 339.46 as the next key support level. For now, the tone is cautious, with momentum fading and resistance holding, and the market awaits a directional trigger.
Ldn 2nd Month Coffee Futures
London coffee futures firmed on Friday, closing at 4557. The stochastics are rising, but with %K now crossing below %D, indicating a slight loss of upward momentum. The MACD diff remains positive but flattening, suggesting that the recent uptrend is losing strength. Price action continues to hold above the 100 DMA at 4037, and futures remain supported above the 10 DMA at 4515 and 40 DMA at 4427, which maintains the overall constructive medium-term tone. To confirm further upside, futures need to break and close above resistance at 4664. A sustained move through this level would open the path toward 5000. On the downside, support at 4338 remains key; a close below that level would weaken the recent constructive bias and shift focus back to 4037. For now, the market is stable but lacking directional conviction, and a break of 4664 or 4338 will determine the next trend leg.
NY 2nd Month Cocoa Futures
NY cocoa futures softened slightly on Friday, closing at 6389. The stochastics are rising from oversold, and the MACD diff remains positive and diverging, signalling improving upward momentum. However, the broader downtrend remains intact, with the price still capped by the descending trendline, and trading below both the 10 DMA at 6076 and 40 DMA at 6774. To confirm a shift toward a more constructive tone, futures would need to break above key resistance at 6720, opening a move toward 7336. On the downside, support remains firm at 6210; a close below this level would indicate a resumption of the broader bearish trend. While momentum is improving, confirmation through resistance is still required.
Ldn 2nd Month Cocoa Futures
London cocoa futures eased on Friday, closing at 4561. The stochastics are rising from oversold, with %K trading above %D, indicating improving upside momentum. The MACD diff is positive and diverging, reinforcing the view that buying interest is beginning to rebuild following the recent lows. However, the broader downtrend remains intact, with futures still capped by the descending trendline and trading below the 10 DMA at 4297, 40 DMA at 4730, and the longer-term 200 DMA at 6173. For a meaningful shift in tone, futures would need to break above the 4698 resistance band, which would open a move toward 5359. On the downside, support at 4296 remains key. A close below this level would signal a resumption of the broader bearish trend and risk a return to the lower range. For now, momentum is improving, but trend resistance remains dominant, and bulls require confirmation through a break of overhead resistance before a more constructive outlook can be adopted.
