NY 2nd Month Sugar Futures
NY sugar futures eased marginally to 14.19, failing to sustain the recent rebound from October’s low. Prices remain below the 10 DMA (14.09), the 40 DMA (14.83), and the 100 DMA (16.04), keeping the broader structure convincingly bearish. The MACD diff is positive (≈ +0.11), indicating that downside momentum has softened materially, though the MACD line remains below zero and momentum is still fragile. Stochastics show %K ≈ 59 above %D ≈ 56, supporting improving short-term strength after rising out of oversold. Immediate resistance is at 14.83 (40 DMA), then 15.62. Support sits at 14.00 and the recent low at 13.70. The market is showing tentative signs of stabilisation, but the broader trend remains downward unless prices can reclaim the 40 DMA.
Ldn 2nd Month Sugar Futures
London sugar eased back to 415.50, slipping slightly after its recent rebound from the 403.40 low. Price remains below the 10 DMA at 414.15, the 40 DMA at 430.60, and the 100 DMA at 452.37, leaving the broader trend firmly downward. The MACD diff is negative (-2.26), with the MACD line still below signal, showing that while downside momentum has moderated, it has not turned positive. The histogram, however, continues to contract, reflecting gradual loss of downside pressure. Stochastics are rising out of the prior trough, with %K at 52.12 above %D at 51.77, signalling improving short-term momentum, though not yet implying a trend reversal. Immediate resistance stands at 434.30, then 453.10, while support rests at 403.40. Failure back through the recent low would re-open the broader downtrend, whereas a close above the 40 DMA would be the first sign of structural stabilisation.
NY 2nd Month Coffee Futures
NY coffee futures edged higher to settle at 376.65, holding within the recent sideways consolidation. Price action remains above the 40 DMA at 375.37 and just below the 10 DMA at 381.90, reflecting a balanced but indecisive short-term tone. The MACD diff is negative (≈ –1.41), though close to the signal line, indicating fading downside momentum as the market stabilises. Stochastics show %K ≈ 41.4 below %D ≈ 45.0, pointing to softening momentum after last week's recovery attempt. Key resistance lies at 393.01, then 400 and 407.90. A sustained break above 393.01 would revive upside interest. Support is at 348.98 (100 DMA) and then 314.75. Overall, the market remains rangebound, with technicals tilting slightly cautious until momentum indicators strengthen.
Ldn 2nd Month Coffee Futures
London Robusta strengthened to 4631, extending its recovery from the October low. Price now sits above the 10 DMA at 4502 and just above the 40 DMA at 4486, while the 100 DMA around 4148 remains supportive beneath the market. The MACD diff is negative (-5.434), with the MACD line sitting below signal, confirming that broader momentum is still soft despite the recent bounce. The histogram has flattened, reflecting reduced downside drive. Stochastics are constructive, with %K at 64.75 above %D at 50.93, signalling firming upward momentum. But the market continues to face repeated selling near the 4664 resistance area, which remains a pivotal cap. A close above 4664 would open further upside toward 5369, while support remains firm at 4502, followed by 4338. For now, short-term momentum is improving, but medium-term trend conditions still lag.
NY 2nd Month Cocoa Futures
NY cocoa futures firmed to 5282, posting a modest rebound but remaining firmly within the broader downtrend. Prices continue to track below the 10 DMA at 5639, the 40 DMA at 6113, and the 200 DMA at 7999, keeping the overarching tone bearish despite the latest uptick. The MACD diff is negative (≈ –82.7) and still below the signal line, showing that downside momentum persists even as selling pressure moderates. Stochastics have crossed higher from deeply oversold territory (%K ≈ 12.2 above %D ≈ 15.3), signalling early stabilisation but not yet a trend reversal. Immediate resistance stands at 5639 (10 DMA), followed by 6210 and the heavier cap at 6720. On the downside, support remains at 5000, with a break risking a retest of the recent lows. For now, the contract is attempting to base, but remains structurally weak with rallies likely to meet resistance quickly.
Ldn 2nd Month Cocoa Futures
London cocoa increased to 3968, but continues to trade within a prolonged downtrend defined by the descending trendline and failure to clear overhead supply layers. Price remains below the 10 DMA at 4154, the 40 DMA at 4367, and the heavily bearish 200 DMA at 5752. The MACD diff is negative (-44.69), with the MACD line well below signal and deeply in negative territory, underscoring persistent downward momentum. The histogram shows only minor contraction. Stochastics have turned up modestly, with %K at 13.07 just below %D at 15.73, meaning momentum is attempting to stabilise but has not produced a confirmed bullish crossover. The market remains oversold, but the signal is weak. Resistance sits at 4269, then 4698, while support lies at 3968, followed by the October low near ~3800 (visually estimated from chart structure). Cocoa remains the weakest of the three markets, with only tentative signs of basing and a still-dominant downtrend.
