NY 2nd Month Sugar Futures
NY sugar closed lower on Thursday at 15.02, easing from the recent rally high but still holding above the key moving averages.
Price remains above the 10 DMA at 14.90, the 40 DMA at 14.78 and the 100 DMA at 14.44, keeping the short-term structure constructive despite the red candle. The pullback from the recent move towards 16.00 suggests some upside fatigue, but while price holds above the 14.78–14.90 DMA zone, the recovery bias remains intact. Support is now layered at the moving averages, followed by 14.30.
Momentum is still positive but starting to soften. The MACD diff remains positive at 0.1647, although the recent histogram looks less forceful, while %K has turned lower to 74.33 and is below %D at 80.05. This suggests the market is correcting from elevated momentum rather than accelerating higher.
Technically, holding above 14.78–14.90 is key for maintaining the recovery structure. A renewed push higher would bring 16.00 back into focus, while a break below the DMA cluster would weaken the outlook and expose 14.30.
Ldn 2nd Month Sugar Futures
Ldn sugar closed lower on Thursday at 431.00, slipping back below the 10 DMA at 436.41 and just below the 40 DMA at 433.12, but still holding above the 100 DMA at 422.77.
The latest red candle shows a loss of near-term momentum after the recent recovery, with price failing to sustain the move above the 434.30 resistance area. The structure is therefore more mixed than NY sugar: the broader base from the February low at 393.80 remains intact, but the market needs to reclaim 433–436 to restore upside momentum.
The MACD diff remains positive at 1.5131, although momentum is flattening, while %K has dropped to 58.29 and is below %D at 71.22. This confirms fading upside pressure and a short-term corrective tone.
For now, the 422–423 area is the key support zone. A hold above the 100 DMA would keep the broader recovery structure alive, but a break below it would risk a move back towards 400–393.80. On the upside, a close back above 434.30 and the 10 DMA would improve the outlook and reopen the way towards 450–460.
NY 2nd Month Coffee Futures
NY coffee futures fell sharply on Thursday, closing at 273.25. The move pushed prices below the 10 DMA at 286.91, the 40 DMA at 292.02 and the 100 DMA at 307.26, confirming renewed downside pressure after the market failed to hold the recent consolidation range.
The MACD diff is negative and diverging, while %K is falling below %D at 18.85, moving into oversold territory. This points to bearish near-term momentum, although the oversold stochastic reading suggests the decline may start to look stretched if support holds. A break below the recent lows around 270 would confirm further downside and expose the 260 area. On the upside, futures need to reclaim the 10 and 40 DMAs to stabilise, before the 314.75 level can come back into focus. For now, the outlook remains weak.
Lnd 2nd Month Coffee Futures
Ldn coffee futures edged higher on Thursday, closing at 3432. Prices held just above the 10 DMA at 3429 but remain below the 40 DMA at 3443 and the 100 DMA at 3686, leaving the broader structure still cautious despite the positive close.
The MACD diff remains positive, suggesting downside momentum has eased, but %K is falling below %D at 40.07, indicating that short-term momentum is still soft. The market needs to reclaim the 40 DMA to confirm a more constructive recovery, which could then open the way towards the 3686 area. On the downside, failure to hold the 10 DMA would weaken the structure and bring the 3166 support level back into focus. For now, Ldn coffee is stabilising, but the recovery remains fragile while prices remain below the 40 and 100 DMAs.
NY 2nd Month Cocoa Futures
NY cocoa closed sharply higher on Thursday at 4427, extending the recovery from the February low at 2846 and breaking above the key 4344.76 resistance level.
Price action is firmly above the 10 DMA at 3720 and the 40 DMA at 3434, confirming a stronger short-term recovery structure. However, the broader trend has not fully reversed, with prices still below the 200 DMA at 5432 and well beneath the higher resistance at 6720. The latest green candle is constructive, as it shows a decisive push through the previous range cap around 4344.76.
Momentum supports the move. The MACD diff is positive and widening, while %K is rising above %D at 84.67, moving deeper into overbought territory. This confirms strong upside momentum, though the overbought stochastic reading suggests the market may become vulnerable to consolidation if buying slows.
Technically, holding above 4344.76 is now key. If this level is sustained, the recovery could extend towards the 200 DMA at 5432. A move back below 4344.76 would weaken the breakout and risk a pullback towards the 3720–3434 DMA zone.
Ldn 2nd Month Cocoa Futures
