NY 2nd Month Sugar Futures
NY sugar futures edged slightly higher to 14.05 but remain deeply embedded in a downtrend. The stochastics are rising from oversold, with %K above %D, suggesting early signs of stabilisation. However, the MACD diff is negative, indicating bearish momentum still dominates despite reduced downside velocity. Prices remain below the 10 DMA at 14.40, the 40 DMA at 15.63, and the 100 DMA at 16.39, confirming the prevailing bearish structure. Immediate resistance sits at 14.50; a break above this would be the first sign of recovery, with further resistance at 15.62. Support remains at 14.00–13.90; a close below this would resume downside pressure and expose fresh lows. While downside momentum is easing, the trend remains firmly lower, and recovery attempts will require a sustained move above the 10 DMA to shift sentiment.
Ldn 2nd Month Sugar Futures
London sugar futures edged slightly higher, but the tone remains weak after posting a low of 405.10 earlier in the week. Prices continue to trade below the 10 DMA at 422.27, 40 DMA at 445.38 and 100 DMA at 459.52, reinforcing the broader downtrend. The MACD line is negative and below the signal line, with the MACD diff at approximately –2.43, pointing to persistent bearish momentum. Stochastics (%K at ~11.87) are deeply oversold but remain below %D, showing no confirmed reversal yet. A close back above 422.27 (10 DMA) would be the first sign of stabilisation, with further resistance at 434.30 and 464.00. Conversely, failure to hold above 405 could expose psychological support at 400, and below there, downside momentum may reassert towards 380. Until momentum indicators turn decisively, the bias remains lower with only tentative signs of basing.
NY 2nd Month Coffee Futures
NY coffee futures were unchanged on Friday, closing at 372.25. The stochastics have softened, with %K below %D and pointing lower, signalling weakening bullish momentum. The MACD diff is negative, reflecting a loss of upside strength after failing to sustain gains above recent resistance. Prices sit just below the 10 DMA at 379.64 while holding marginally above the 40 DMA at 372.48 and well above the 100 DMA at 340.27, leaving the broader tone cautiously constructive but near-term momentum indecisive. Immediate resistance remains at 393.01, followed by 407.90; a close above the former is needed to reassert upside traction. Support lies at 350 initially, then more firmly at 314.75. Overall, the market is consolidating within a broader uptrend, but short-term momentum has faded, and a decisive close above 393.01 is required to restore bullish conviction.
Ldn 2nd Month Coffee Futures
London coffee futures slipped slightly to 4540 but continue to hold within the established consolidation range. Prices are sitting just below the 10 DMA at 4552 but remain above the 40 DMA at 4440 and well above the 100 DMA at 4046, keeping the broader tone constructive. The MACD histogram is marginally positive, with the MACD line just above the signal line, though momentum has flattened, suggesting indecision rather than renewed strength. Stochastics (%K ~43.47) have crossed below %D, indicating softening upside momentum. Resistance remains firm at 4664, a break above which would open the way towards 4930 and 5369. On the downside, support stands at 4338, then 4046 (100 DMA). Price action suggests a sideways-to-up bias within the broader recovery trend, but fresh buying interest will only be confirmed with a close above 4664.
NY 2nd Month Cocoa Futures
NY cocoa futures firmed into the weekend, settling at 6250. The stochastics are rising, with %K just below %D but still pointing higher, indicating improving upside momentum. The MACD diff is positive, confirming a shift toward bullish momentum after a prolonged decline. Prices have rebounded above the 10 DMA at 6171 but remain capped by the descending trendline and below the 40 DMA at 6595 and the 200 DMA at 8360, meaning the broader downtrend persists. The nearest resistance stands at 6210–6720, and a close above 6720 would signal a stronger recovery and open the way toward 7336. On the downside, 6210 remains first support; a break below would indicate a loss of momentum and a possible return to October lows. While momentum is improving, trend resistance still dominates and a confirmed break above 6720 is needed to neutralise the bearish structure.
Ldn 2nd Month Cocoa Futures
London cocoa futures firmed to 4489, extending gains off the recent lows near 4300. Prices are now trading above the 10 DMA at 4398 but still below the 40 DMA at 4626 and the 200 DMA at 6071, signalling short-term recovery within a broader bearish structure. The MACD diff is positive (~+49.26), with the MACD line having crossed above the signal line, indicating improving upside momentum. Stochastics are also supportive, with %K (~56.98) just above %D, suggesting moderate bullish momentum. Immediate resistance lies at 4698; a confirmed break above this would bring 4950–5000 into view and challenge the descending trendline. Initial support is at 4296, with a failure back below this level undermining the current recovery and refocusing attention on the recent lows. For now, cocoa is attempting to base, but a decisive close above 4698 is needed to confirm a shift in near-term sentiment.
