NY 2nd Month Sugar Futures
NY sugar futures edged lower on Thursday, closing at 13.98. The stochastics remain deeply oversold, with %K below %D, showing that downside momentum persists though the market is approaching exhaustion. The MACD diff is negative (-0.09) and broadly flat, reflecting sustained weakness but limited acceleration to the downside. Prices remain well below the 10 DMA at 14.50, 40 DMA at 15.69, and 100 DMA at 16.42, reinforcing the prevailing downtrend. A close below 13.80 would confirm continued bearish control, while any rebound above the 10 DMA at 14.50 would be the first sign of stabilisation. For now, the tone remains decisively weak, with oversold signals developing but no evidence yet of reversal.
Ldn 2nd Month Sugar Futures
London sugar futures softened slightly on Thursday, closing at 408.90. The stochastics remain deeply oversold, indicating that downside momentum remains entrenched but is showing early signs of fatigue. The MACD diff is negative and flattening, reflecting persistent weakness but a potential for stabilisation as selling pressure eases. Prices continue to trade well below the 10 DMA at 424.74, 40 DMA at 446.62, and 100 DMA at 460.02, confirming the entrenched downtrend. A close below 405.10 would extend losses toward the 400 area, while any rebound above the 10 DMA could trigger a corrective move toward 434.30. For now, futures remain under pressure, though the extreme oversold readings hint that downside momentum could begin to fade.
NY 2nd Month Coffee Futures
NY coffee futures firmed slightly on Thursday, closing at 372.25. The stochastics are easing, with %K below %D, indicating that upside momentum has faded after recent consolidation. The MACD diff is negative and continues to converge, suggesting that bearish momentum is moderating but not yet reversed. Price action sits just below the 10 DMA at 379.97 and close to the 40 DMA at 372.52, while the 100 DMA at 340.08 provides broader trend support. A decisive close above the 10 DMA would open the way toward 393.01, while failure to hold the 40 DMA could invite renewed pressure toward 340.00.Overall, futures remain rangebound, with soft momentum and neutral near-term bias within a broader constructive structure.
Ldn 2nd Month Coffee Futures
London coffee futures extended gains on Thursday, closing at 4641. The stochastics are rising modestly, suggesting early signs of upward traction as the market attempts to build momentum. The MACD diff is negative and converging, signalling that downside momentum is easing and the outlook is beginning to stabilise. Prices are now above the 40 DMA at 4434 but remain slightly below the 10 DMA at 4545 and the 100 DMA at 4044, leaving the broader picture constructive if consolidation continues above near-term support. To confirm further upside, futures need to close above resistance at 4664, opening a path toward 5000. On the downside, a close below 4338 would weaken the near-term outlook. The improving momentum signals suggest that the tone is turning cautiously constructive, but confirmation is still required.
NY 2nd Month Cocoa Futures
NY cocoa futures increased modestly on Thursday, closing at 6103. The stochastics are turning lower, with %K at 45.83 below %D at 51.83, signalling that the brief upward momentum might be fading. The MACD diff is positive but flattening, indicating that the recovery is losing steam. Prices remain capped below the 10 DMA at 6142, 40 DMA at 6626, and 200 DMA at 8380, leaving the broader downtrend intact. A close above 6210 would be required to reassert upward traction and target 6720, while a move below 6000 would expose the 5800 region. For now, momentum has weakened, and resistance from the short-term averages continues to constrain the market’s recovery.
Ldn 2nd Month Cocoa Futures
London cocoa futures held firm on Thursday, closing at 4374. The stochastics are steady, signalling that the recent upward momentum is softening slightly after testing resistance. The MACD diff is positive and diverging, indicating that bullish momentum remains intact despite mild hesitation near resistance. Prices are trading just above the 10 DMA at 4365 but below the 40 DMA at 4642 and 200 DMA at 6092, suggesting that while short-term momentum has improved, the longer-term trend remains capped. To confirm further upside, futures need to close above 4698, which would open a move toward 5359. On the downside, a close below 4296 would signal renewed pressure toward the 4000 region. For now, the outlook is cautiously constructive, with momentum favouring gradual recovery as long as prices hold above the short-term average.
