NY 2nd Month Sugar Futures
NY sugar futures edged lower on Thursday, closing at 13.70, remaining below the 40 DMA at 14.24 and the 100 DMA at 14.52, both of which continue to trend above price and reinforce the broader bearish structure. Futures are, however, holding slightly above the 10 DMA at 13.67, suggesting tentative short-term stabilisation. The stochastics are rising, with %K at 34.07, lifting from near oversold territory. The MACD diff is negative at -0.0134, remaining below zero but flattening, signalling that downside momentum is easing rather than accelerating.
To confirm near-term stabilisation, futures need to hold above the 10 DMA at 13.67 and break above resistance at 14.28. A move above this level would open the way towards the 40 DMA at 14.24. On the downside, futures need to break below 13.60/13.50 to confirm renewed bearish momentum.
Recent candles show small-bodied consolidation after the latest decline, suggesting reduced selling pressure but no confirmed reversal formation. The broader trend remains downward while price trades below the medium-term DMAs. The indicators suggest stabilisation rather than reversal, with confirmation required through a break above 14.28.
Ldn 2nd Month Sugar Futures
London sugar futures edged lower on Thursday, closing at 399.20, remaining below the 10 DMA at 403.63, the 40 DMA at 416.92, and the 100 DMA at 422.59, all of which continue to trend above price and reinforce the bearish structure. Prices are trading just above the recent low at 393.80, which continues to act as the key near-term support level. The stochastics are rising, with %K at 24.68, lifting from oversold territory. The MACD diff is negative at -1.0629, remaining below zero but flattening, suggesting that downside momentum is stabilising.
To confirm further downside, futures need to break below the recent low at 393.80. On the upside, futures need below 390 to reclaim the 10 DMA at 403.63 to stabilise the near-term outlook. A break above the 40 DMA at 416.92 would be required to shift short-term momentum, while a move above the 100 DMA at 422.59 would alter the broader bearish bias.
Recent candles show consolidation just above support, with smaller bodies suggesting reduced selling pressure but no clear reversal pattern visible. The broader technical structure remains weak. The indicators suggest stabilisation in the near term, but futures need to reclaim 403.63 to confirm a shift in momentum.
NY 2nd Month Coffee Futures
NY coffee futures held steady on Thursday, closing at 285.40 after a modest rebound from recent lows. Prices remain below the 10 DMA at 291.26, the 40 DMA at 323.29, and the 100 DMA at 353.01, all trending lower and confirming that the broader trend remains under pressure. The stochastics are stabilising, with %K at 22.53 and %D at 18.86, lifting slightly but still in the lower range, suggesting the market is attempting to base rather than reverse. The MACD diff is negative at -0.8832 and continues to flatten, indicating that downside momentum is moderating rather than accelerating.
To confirm further weakness, futures need to break below the recent support zone around 280. On the upside, futures need to reclaim the 10 DMA at 291.26 to stabilise the near-term structure. A break above 314.75 would strengthen recovery prospects, while a move through the 40 DMA at 323.29 would be required to shift short-term momentum more decisively.
Recent candles show smaller bodies and reduced directional conviction following the sharp sell-off earlier in the month, signalling that selling pressure is easing but not reversing. The broader trend remains bearish while price trades below the falling DMAs. We expect futures to consolidate with a weak bias in the near term unless resistance levels are reclaimed.
Lnd 2nd Month Coffee Futures
London coffee futures edged lower on Thursday, closing at 3620 and remaining below all major moving averages. The 10 DMA stands at 3710, the 40 DMA at 3898, and the 100 DMA at 4178, all positioned above price and sloping lower, reinforcing the prevailing bearish trend structure. The stochastics are stabilising, with %K at 26.54 and %D at 26.77, hovering in the lower range and suggesting the market is attempting to form a base rather than extend losses immediately. The MACD diff is negative at -13.9145, remaining below zero but flattening, signalling that downward momentum is losing intensity.
To confirm further downside, futures need to break below the recent support zone near 3600. On the upside, futures need to reclaim the 10 DMA at 3710 to stabilise the near-term outlook. A break above the 40 DMA at 3898 would signal improving momentum, while only a move above the 100 DMA at 4178 would alter the broader trend structure.
Recent price action shows smaller candles and reduced follow-through after the earlier decline, indicating fading selling pressure but no confirmed reversal signal. The broader trend remains weak while prices trade below descending moving averages. We expect futures to remain fragile in the near term unless the 10 DMA is decisively reclaimed.
NY 2nd Month Cocoa Futures
NY cocoa futures extended losses into Thursday as heavy selling pressure drove prices down to 3058, marking a fresh cycle low just above 3052. Futures remain decisively below the 10 DMA at 3775, the 40 DMA at 4855, and the 200 DMA at 6918, confirming that both short-term and broader trend structures remain firmly bearish. The stochastics are deeply oversold, with %K/%D holding near the lower boundary, suggesting downside momentum is stretched but not yet reversing. Meanwhile, the MACD diff remains negative, though it is beginning to flatten slightly, signalling that bearish momentum persists but is no longer accelerating.
To confirm continuation of the downtrend, futures need to break below 3050, which could expose the next support near 2420. On the upside, prices would need to reclaim the 10 DMA at 3775 to signal stabilisation and then challenge resistance at 4296.
The long bearish candle structure and persistent rejection below the short-term DMA suggest rallies are likely to meet selling pressure. We expect prices to remain under downward pressure in the near term.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures weakened sharply into Thursday, settling at 2146 after briefly touching a new low at 2133. Futures continue to trade well beneath the 10 DMA at 2624, the 40 DMA at 3400, and the 200 DMA at 4814, reinforcing the entrenched bearish trend across all time horizons. The stochastics are also deeply oversold, with %K/%D hovering near extreme lows, indicating persistent downside momentum while hinting at the risk of short-term consolidation. The MACD diff remains negative but is converging marginally, suggesting that selling pressure is still dominant yet beginning to stabilise.
To confirm continuation lower, futures need to break below 2130, which could open the path towards psychological support near 2000. Conversely, a recovery above the 10 DMA at 2624 would be required to signal near-term stabilisation and allow a move towards 3000.
Candle bodies remain small within the latest leg lower, indicating limited buying conviction. The indicators point to continued weakness, though oversold conditions suggest the decline may slow before the next directional move.
