NY 2nd Month Sugar Futures
NY sugar strengthened on Friday, closing at 14.49, extending the short-term recovery from the recent low near 13.40. Price remains below the 100 DMA at 16.13, and although the 10 DMA at 14.46 has now been marginally reclaimed, the broader structure remains decisively bearish. The MACD diff is positive, confirming mild upside momentum as prices stabilise. Stochastics continue to rise, with %K above %D, signalling improving short-term traction after an extended oversold phase. Initial resistance sits at 15.62, followed by a heavier cap at 16.64. A decisive break above the 40 DMA (15.62) is required to shift the near-term tone towards a more constructive bias. On the downside, support is now seen at 14.00, with the recent low at 13.40 remaining the critical line that defines trend continuation. For now, the market is attempting to base, but the overarching downtrend continues to dominate unless prices can sustain above the 40 DMA.
Ldn 2nd Month Sugar Futures
London sugar futures strengthened on Friday, closing at 425.80, extending the rebound from the recent low at 403.40. The stochastics have accelerated higher, with %K at 62.80 above %D at 44.19, signalling improving upside momentum. The MACD diff is positive (+2.42) and rising, confirming that downside momentum continues to fade after the prolonged decline. Despite the near-term improvement, price action remains below the key DMAs: the 10 DMA at 411, the 40 DMA at 433, and the 100 DMA at 454, leaving the broader trend structure still weak. The close back above the 10 DMA improves short-term tone, but a break above 434.30, followed by 464.00, is required to shift the medium-term picture towards recovery. On the downside, first support stands at 411 (10 DMA), followed by the recent cycle low at 403.40, which remains the key line of defence. While momentum indicators are improving, the broader trend remains bearish until prices can reclaim the 40 and 100 DMAs.
NY 2nd Month Coffee Futures
NY coffee eased on Friday, closing at 374.00, maintaining the softer tone that has developed after repeated failures near the overhead resistance area around 393.01. The contract is now trading below the 10 DMA at 384.87, though it remains above the 40 DMA at 372.05 and the 100 DMA at 345.84, leaving the market in a neutral-to-cautiously constructive broader structure but under near-term pressure. The MACD diff is negative, indicating softening momentum, with histogram values confirming ongoing downside convergence. Stochastics have weakened, with %K below %D, pointing to easing short-term strength and the potential for further consolidation or drift lower. Immediate resistance sits at 384.87 (10 DMA), followed by 393.01, which remains the key pivot for any renewed upside attempts. Support lies at 372.05 (40 DMA), with a decisive close below exposing 345.84 (100 DMA). Price action remains range-bound, but short-term momentum has turned lower, and upside progress remains constrained by overhead supply.
Ldn 2nd Month Coffee Futures
London robusta futures weakened on Friday, closing at 4223, marking a clear rejection of the mid-week highs and reinforcing near-term softness. The stochastics have turned lower, with %K at 24.40 below %D at 37.27, indicating fading short-term momentum. The MACD diff is negative (-47.04) and declining, confirming that downside momentum is re-establishing. Prices have slipped back below the 10 DMA at 4541 and the 40 DMA at 4449, though they remain marginally above the 100 DMA at 4111, offering limited structural support. The failure to hold above the resistance band at 4664 earlier in the week has reinforced the broader rangebound but heavy tone. Immediate support is located at 4106 (100 DMA), followed by the recent swing low near 4000. Resistance sits at 4338, then 4541, with a break above 4664 required to re-open upside momentum. Overall, London coffee is turning lower again, with momentum indicators softening and the contract losing grip on short-term trend support.
NY 2nd Month Cocoa Futures
NY cocoa fell on Friday, settling at 5457, marking a continuation of the broader downtrend. Prices remain firmly below the 10 DMA at 6123, the 40 DMA at 6282, and the 200 DMA at 8109, keeping the technical structure heavily bearish. The MACD diff is negative, showing widening downside momentum, while stochastics have rolled lower again with %K below %D, signalling renewed selling pressure after a brief pause. The descending trendline continues to cap all recovery attempts, reinforcing the dominant downward trajectory. Nearby support is located at 5457, with a break beneath this exposing further weakness towards the next horizontal level near 5200. Resistance remains layered at 6210, then 6720, both of which must be reclaimed before any short-term stabilisation can be considered credible. Momentum and trend indicators are aligned to the downside, and the bias remains firmly bearish.
Ldn 2nd Month Cocoa Futures
London cocoa futures softened again on Friday, settling at 4104, extending the retreat back towards key support. The stochastics are weakening, with %K at 16.03 below %D at 27.93, signalling ongoing downside pressure. The MACD diff is negative (-31.97) but stabilising slightly, indicating that bearish momentum persists but is no longer accelerating. Prices remain firmly capped by the descending trendline and continue to trade below all major moving averages: the 10 DMA at 4437, 40 DMA at 4458, and 200 DMA at 5842, leaving the broader trend decisively bearish. The inability to sustain gains above the 10 DMA during late October confirms that trend resistance remains dominant. Support sits at 4296, followed by 4000, while resistance is layered at 4489, then 4698. A break above 4698 would be required to signal a more meaningful shift in tone; until then, rallies continue to encounter heavy selling interest. The current structure favours further consolidation with a bearish bias unless momentum improves.
