NY 2nd Month Sugar Futures
NY sugar futures were little changed on Thursday, closing at 14.59. The stochastics have edged higher, with %K/%D in the low-40s, suggesting modest constructive momentum. The MACD diff remains narrowly negative as MACD holds just below signal, indicating subdued appetite for directional conviction despite the lack of downside follow-through.
To confirm the upside bias, futures need to break above the 10 DMA at 14.60 and then close above the 40 DMA near 14.44 before targeting 15.00 and 15.62. On the downside, sustained closes below 14.40 would shift focus back toward 14.00. Candle structure reflects muted trade within a tight range as markets await a catalyst. Near-term outlook remains rangebound until directional triggers are taken out.
Ldn 2nd Month Sugar Futures
Ldn sugar futures held their ground on Thursday, settling at 426.20. The stochastics are rising, with %K/%D improving through the mid-50s, and the MACD diff is positive and slightly diverging, signalling incremental bullish momentum.
To confirm the upside, prices need to close above the 40 DMA at 421.85 and then challenge the 100 DMA at 437.81. A break above 434.30 would open the path towards 464.00. On the downside, a close below the 10 DMA at 425.36 would soften sentiment and reintroduce a test of trend support around 410–400, with 403.40 as the key defence level. Thin candle ranges in recent sessions indicate consolidation, and while indicators lean constructive near term, the futures need to reclaim the higher averages to reinforce the upward bias.
NY 2nd Month Coffee Futures
NY coffee futures held higher on Thursday, settling at 352.85 as markets extended the recovery off December lows. The stochastics are rising, with %K/%D just above 70 and diverging, signalling sustained bullish momentum. The MACD diff is positive as MACD trades above signal, confirming upside pressures despite MACD itself remaining below zero.
To validate the upside structure, futures need to close above the high-350s and then retest the resistance region at 393.00. A break beyond here could trigger a move toward 408.00. On the downside, confirmation of near-term support around the 10 DMA at 341.52 keeps the short-term structure intact, with a deeper break toward 315.00 only if this fails. Price action reflects strengthening buying interest, and indicators continue to favour gains in the near term.
Ldn 2nd Month Coffee Futures
Ldn coffee futures softened slightly on Thursday to close at 3928. The stochastics are rising firmly through the high-60s, pointing to growing near-term buying interest. The MACD diff is negative but converging, indicating easing bearish momentum after the recent washout towards 3800.
To confirm the upside, prices need to close above the 10 DMA at 3921 and then break the 40 DMA at 4143 before retesting 4338 and 4664. On the downside, confirmation below 3800 would reintroduce bearish momentum and refocus support towards 3500. Recent candles show stabilisation above the 10 DMA, reinforcing the constructive short-term bias, though the longer-term trend remains capped by the higher DMAs overhead.
NY 2nd Month Cocoa Future
NY cocoa futures firmed on Thursday, closing at 6,134 as recent gains held above the short-term DMAs. The stochastics are rising with %K/%D in the low-40s, signalling continued upside momentum out of mid-range levels. The MACD diff remains slightly negative as MACD sits marginally below signal, indicating the recent bullish tone lacks a clean confirmation and remains in convergence territory.
To confirm the broader upside profile, futures need to close above the 6,210 level before testing the 40 DMA near 5,759 and then the resistance zone around 6,720. On the downside, a break back below 6,000 could open the way for a retreat toward 5,800, with scope back to 5,500 if short-term support fails. Candle structure shows steady but moderated buying interest in recent sessions. Near-term tone is constructive but requires a clean break above key resistance to extend.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures edged higher to 4373 on Thursday, extending the recovery from December lows. The stochastics are rising through the mid-40s, and the MACD diff is negative but converging towards the signal line, indicating diminishing bearish momentum. The 10 DMA at 4310 continues to lend short-term support, but upside confirmation requires a close above the 40 DMA at 4180 and then a sustained break through 4698.
On the downside, a close below 4296 would weaken the bullish undertone and re-expose trend support towards the 4000 region, with 3650 the key structural floor. With several failed attempts around 4296–4698 and the longer-term averages still overhead, the broader trend remains cautious, but improving indicators suggest scope for stabilisation and a near-term retest higher.
