NY 2nd Month Sugar Futures
NY sugar futures edged lower but still managed to settle above the 10 DMA , while remaining capped beneath the 40 DMA at around 14.10 and the 100 DMA, indicating that although short-term support is holding, the broader trend structure is still weak. The MACD diff remains positive, suggesting that downside momentum has moderated and that selling pressure is no longer accelerating. However, %K at around 69 is falling and looks close to crossing below %D, which signals fading upside momentum and implies that the recent rebound is losing strength. This configuration typically points to consolidation or a corrective pullback rather than a continuation higher.
To confirm renewed downside pressure, futures would need to break below 13.75, which could expose deeper support toward 13.40. On the upside, a close above 14.00 would strengthen near-term sentiment and open the way for a test of 14.29, where stronger resistance is likely to emerge.
Recent candles show narrowing ranges and limited follow-through, indicating hesitation among participants. We expect near-term direction to remain fragile unless prices establish acceptance above the medium-term averages.
Ldn 2nd Month Sugar Futures
Ldn sugar futures edged higher, closing back above the psychological 400 level and the 10 DMA, although prices continue to trade well below the 40 DMA and the 100 DMA, reinforcing that the broader trend bias remains to the downside despite short-term stabilisation. The MACD diff is positive, signalling easing bearish momentum, while %K is above %D and still rising, suggesting improving near-term sentiment and a modest build-up of buying interest. This indicator structure points to a corrective recovery phase rather than a confirmed trend reversal.
To confirm renewed weakness, futures would need to break back below 400, which would expose support near 395. Conversely, a sustained move above 410 would strengthen the recovery tone and open the way for a test of 415, close to the 40 DMA.
Candle structure shows small real bodies and overlapping sessions, highlighting a market that is stabilising after recent declines rather than trending decisively. We expect prices to remain rangebound with a slight upside bias unless resistance levels cap gains.
NY 2nd Month Coffee Futures
NY coffee futures held just above key support on the latest session, settling marginally above the 280 level while remaining capped beneath the 10 DMA near 285 and well below the 40 and 100 DMAs, reinforcing that the broader structure remains firmly bearish despite recent stabilisation. The MACD diff is holding above zero, indicating that downside momentum has eased and that the prior selling phase is losing intensity rather than accelerating. Meanwhile, %K has crossed below %D, signalling fading upside momentum and suggesting that the recent rebound is beginning to stall. This configuration typically reflects a corrective bounce within a broader downtrend rather than the start of a sustained recovery.
To confirm renewed weakness, futures would need to break decisively below 280, which could expose the next support region near 250. On the upside, a recovery through the 10 DMA would be required to stabilise the short-term outlook, with a move above 300 needed to signal that buyers are regaining control.
Recent candles show reduced range and overlapping bodies, pointing to consolidation after the decline. Near-term direction is likely to hinge on whether support at 280 continues to hold; failure there would reinforce the prevailing bearish trend.
Lnd 2nd Month Coffee Futures
Ldn coffee futures edged lower, closing beneath the 10 DMA and remaining clearly below the 40 and 100 DMAs, confirming that the dominant trend remains to the downside despite intermittent rebounds. The MACD diff has turned positive, indicating that downside momentum is moderating and that selling pressure is no longer intensifying. At the same time, %K remains above %D and, although plateauing, is still trending higher, suggesting residual stabilisation momentum rather than outright strength. This combination often signals a pause or corrective phase within a broader bearish structure rather than a reversal.
To confirm renewed downside pressure, futures would need to break below 3600, which could trigger a move towards 3500. Conversely, a recovery above the 10 DMA would be the first signal of strengthening near-term sentiment and could open the way for a test of 3700.
The latest candles show narrowing ranges and reduced follow-through, indicating hesitation from both buyers and sellers. We expect prices to remain rangebound with a soft bias unless resistance levels are reclaimed and held.
NY 2nd Month Cocoa Futures
NY cocoa futures declined on Friday, breaking below the 3000 level, reinforcing the prevailing bearish structure. Prices are trading beneath all major moving averages confirming that both short-term momentum and the broader trend remain firmly to the downside. The MACD diff is negative and still diverging, signalling persistent selling pressure and no clear sign yet of momentum stabilisation. Meanwhile, stochastics show %K holding above %D but deep in oversold territory near 8, which typically reflects exhaustion in selling rather than outright bullish momentum. This configuration often precedes consolidation or a temporary stabilisation phase rather than an immediate recovery.
To confirm continued weakness, futures would need to extend losses below nearby support at 2800, which could open the way toward the historical support zone around 2420. On the upside, prices would need to reclaim the 10 DMA to signal that downside momentum is easing and that a corrective recovery phase may be developing.
Recent candles remain predominantly bearish. We expect downside risks to remain dominant in the near term unless prices recover above short-term averages.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures edged lower, continuing to trade beneath all key moving averages, with the 10 DMA, the 40 DMA, and the 200 DMA, underscoring the strength of the prevailing downtrend across all time horizons. The MACD diff remains negative and is still diverging, signalling that bearish momentum is intact and that selling pressure has yet to stabilise. Stochastics show %K falling and having just crossed below %D at deeply oversold levels below 9, which indicates increasing downside momentum even as the market approaches historically low territory. This type of signal often reflects trend continuation rather than reversal when it occurs within a strong downtrend.
To confirm a fresh leg lower, futures would need to break below the long-standing structural support at 2050, which could trigger a move toward 2000 initially and potentially the longer-term historical level near 1740. Conversely, any stabilisation would require a recovery back above the 10 DMA at 2250, which would be the first signal that selling pressure is easing.
Candle structure remains dominated by bearish bodies. We expect the market to remain under pressure in the near term.
