NY 2nd Month Sugar Futures
NY sugar futures edged higher on Friday as prices settled at 14.19, moving above the 10 DMA at 13.94 and the 40 DMA at 14.05, while approaching the 100 DMA at 14.28, signalling improving short-term momentum after the recent consolidation around the 13.50-14.00 range. The stochastics are rising, with %K trading above %D near the mid-range, suggesting strengthening upside momentum as buying interest gradually returns. Meanwhile, the MACD diff has turned positive and is diverging, indicating that the previous selling pressure is easing and that momentum is shifting in favour of a recovery phase.
To confirm a more constructive outlook, futures need to break above resistance at the 100 DMA near 14.28, which would open the way for a move toward 15.00 and potentially the 15.62 level. On the downside, support is seen at 13.34, and a break below this level would weaken the recovery structure and expose the broader base near 13.00. Recent candles show modestly higher lows developing since late February, suggesting that buyers are gradually regaining control of the short-term trend. While the broader structure remains cautious, momentum indicators point to improving upside potential provided prices can sustain gains above the cluster of moving averages.
Ldn 2nd Month Sugar Futures
Ldn sugar futures strengthened on Friday as prices closed at 415.40, reclaiming both the 10 DMA at 407.52 and the 40 DMA at 411.95, although still trading below the 100 DMA near 417.61, indicating that the market is attempting a recovery but remains within a broader downward structure. The stochastics are rising, with %K above %D around the upper half of the range, signalling improving momentum following the rebound from the February low near 393.80. At the same time, the MACD diff has turned positive and is diverging, suggesting that bearish momentum is fading and that buying interest is building in the near term.
To confirm a more sustained recovery phase, futures need to break above the 100 DMA near 418, which would open the way for a move toward 434.30, the next major resistance level. On the downside, support remains near 392.65, and a break below this level would likely reinstate downward pressure toward 390. Recent candles show progressively firmer closes after the rebound from February lows, indicating improving sentiment, although the presence of overhead resistance continues to cap stronger advances. In the near term, indicators point to a constructive bias, with further gains possible if prices establish acceptance above the medium-term moving averages.
NY 2nd Month Coffee Futures
NY coffee futures edged higher on Friday as prices closed at 293.30, extending the rebound from the February lows and moving further above the 10 DMA at 284.76, while remaining below the 40 DMA at 308.43 and well beneath the 100 DMA at 344.48, highlighting that the broader trend still leans to the downside despite improving short-term momentum. The stochastics are rising, with %K climbing above %D and approaching the upper half of the range, signalling strengthening upside momentum as the market attempts to recover from oversold conditions. Meanwhile, the MACD diff has turned positive and is diverging, suggesting that bearish momentum is easing and that buying interest is gradually building.
To confirm a stronger recovery structure, futures need to break above resistance at the 40 DMA near 308, which could open the way for a move toward the 314.75 level and potentially the 320 region. On the downside, support is seen around 280, which has acted as a recent base for the market, and a break below this level would weaken the current recovery attempt and reopen the downside toward 260. Recent candles show a sequence of firmer closes and higher lows since mid-February, indicating that buyers are slowly regaining control of the near-term trend. While the broader structure remains cautious beneath the longer-term averages, the indicators point to improving momentum provided prices can challenge the resistance cluster above.
Lnd 2nd Month Coffee Futures
Ldn coffee futures also strengthened on Friday, settling at 3772, holding above the 10 DMA at 3690 but remaining below the 40 DMA at 3833 and the 100 DMA at 4098, indicating that the market is attempting a recovery within a still-bearish medium-term structure. The stochastics are rising, with %K trading above %D near the upper range, suggesting improving upside momentum following the rebound from the 3500 area. At the same time, the MACD diff has turned positive and is diverging, highlighting that selling pressure has eased and that the market is building a constructive short-term bias.
To confirm the recovery phase, futures need to break above the 40 DMA near 3830, which could set the scene for a move toward 4000 and potentially the next resistance level at 4259.79. On the downside, support remains near 3500, and a break below this level would likely reintroduce stronger selling pressure and expose the 3166 area. Recent candles show improving price stability after the sharp declines earlier in the year, suggesting that the market may be transitioning into a consolidation phase. In the near term, indicators point to further recovery attempts, though the cluster of medium- and long-term moving averages continues to cap stronger upside moves.
NY 2nd Month Cocoa Futures
NY cocoa futures rebounded on Friday as prices settled at 3230, extending the recovery from the February low near 2846 and moving further above the 10 DMA at 3057, though still trading well below the 40 DMA at 4040 and the 200 DMA at 6565, highlighting that the broader trend remains firmly bearish despite the recent stabilisation. The stochastics are rising, with %K trading above %D near the mid-range, indicating strengthening upside momentum as the market attempts to recover from deeply oversold conditions. Meanwhile, the MACD diff has turned positive and is diverging, suggesting that selling pressure has eased and that short-term buying interest is building.
To confirm a more meaningful recovery structure, futures need to break above resistance at the 40 DMA near 4040, which could open the way for a move toward 4344 and potentially higher levels. On the downside, support remains around 2846, the recent low, and a break below this level would likely reintroduce strong downside pressure toward 2600 and then 2420. Recent candles show a sequence of firmer closes and higher lows following the February bottom, suggesting that the market may be entering a consolidation phase after the steep decline. However, the cluster of longer-term moving averages overhead continues to cap stronger rallies, leaving the broader outlook cautious despite the improving momentum.
Ldn 2nd Month Cocoa Futures
Ldn cocoa futures strengthened on Friday as prices closed at 2316, extending the rebound from the late February low near 2015 and holding above the 10 DMA at 2170, though still well below the 40 DMA at 2820 and the 200 DMA at 4546, indicating that the broader bearish structure remains intact. The stochastics are rising, with %K trading above %D around the mid-range, signalling improving momentum following the sharp sell-off earlier in the year. At the same time, the MACD diff has turned positive and is diverging, suggesting that selling pressure is fading and that the market is attempting to stabilise.
To confirm a stronger recovery phase, futures need to break above the 40 DMA near 2820, which could set the scene for a move toward 3000 and potentially the 3160 region. On the downside, support remains near 2050, close to the recent low area, and a break below this level would likely reopen the downside toward 2000 and then the longer-term support near 1750. Recent candles show a gradual improvement in price action after the February lows, suggesting that the market is attempting to build a base. However, with prices still trading well below the key medium- and long-term moving averages, the current rebound appears corrective within a broader downtrend, with further confirmation needed to signal a more durable recovery.
