NY 2nd Month Sugar Futures
NY sugar futures edged lower on Friday, closing at 15.85, down 0.24 on the session as prices retreated after testing the recent highs near 16.10. The red candle signals some profit-taking following the strong rally from the June lows, although futures remain comfortably above the 10 DMA at 15.59, the 40 DMA at 14.91 and the 100 DMA at 14.72. The pullback has done little damage to the broader recovery structure, with prices continuing to hold above all major moving averages and well clear of the key support zone around 15.00.
The stochastics remain elevated, with %K at 86.71 marginally above %D at 85.20, indicating that momentum remains strong despite entering overbought territory. The MACD diff is positive at 0.18 and continues to widen, suggesting that underlying buying pressure remains intact even as the market consolidates after recent gains.
To confirm a continuation higher, futures need to hold above the 10 DMA and break back above the recent highs around 16.10. A move through this level would open the way towards 16.50. On the downside, a break below the 10 DMA at 15.59 would signal fading momentum and expose the 40 DMA at 14.91. For now, Friday's decline appears corrective within a broader recovery trend, with the indicators continuing to favour higher prices while support levels hold.
Ldn 2nd Month Sugar Futures
Ldn sugar futures also declined on Friday, closing at 464.60, down 7.00 on the session as selling pressure extended the pullback from the recent high above 480. The contract remains below the 10 DMA at 471.39, suggesting that short-term momentum has weakened. However, futures continue to trade comfortably above the 40 DMA at 446.97 and the 100 DMA at 435.14, indicating that the broader uptrend remains intact despite the recent correction.
The stochastics have turned lower, with %K at 68.28 below %D at 77.25, signalling that upside momentum is cooling after previously reaching overbought territory. The MACD diff remains positive at 0.90, confirming that the underlying trend is still constructive, although the loss of momentum highlights the risk of further near-term consolidation.
To confirm a deeper pullback, futures need to remain below the 10 DMA and break through support at the 40 DMA at 446.97. A move below this level would expose the 100 DMA at 435.14. On the upside, futures need to reclaim the 10 DMA at 471.39 and then challenge the recent highs around 480 to re-establish the bullish trend. For now, the correction appears to be a pause within a broader recovery, but the failure to hold above the 10 DMA suggests near-term momentum has shifted to a more neutral tone.
NY 2nd Month Coffee Futures
NY coffee futures declined on Friday, closing at 334.25, down 13.65 on the session as prices pulled back after failing to sustain the recent break above the 350 level. The red candle highlights profit-taking following the sharp rally from the June lows, although the broader technical structure remains constructive. Futures continue to trade comfortably above the 10 DMA at 311.81, the 40 DMA at 273.77 and the 100 DMA at 283.36, while also holding above the key breakout level at 312.25. As a result, the latest decline appears corrective rather than trend-changing.
The stochastics are easing from overbought territory, with %K at 73.87 marginally below %D at 74.13, signalling that upside momentum is cooling after becoming stretched. However, the MACD diff remains firmly positive at 6.30 and continues to support the broader recovery trend, suggesting that buying pressure remains dominant despite the weaker close.
To confirm a deeper correction, futures need to break back below support at 312.25 and then test the 10 DMA at 311.81. A move through these levels would expose the 100 DMA at 283.36. On the upside, futures need to recover above 350 to confirm renewed buying interest and reopen the path towards 375. For now, the pullback appears to be a pause within a broader recovery, with futures remaining comfortably above all major moving averages.
Lnd 2nd Month Coffee Futures
Ldn coffee futures plunged on Friday, closing at 3852, down 191 on the session as a large red candle erased much of the previous advance. The decline followed repeated failures to sustain gains above the 4000 level and marks the sharpest setback since the recovery began in June. Despite the magnitude of the move, futures continue to trade above the 10 DMA at 3804, the 40 DMA at 3521 and the 100 DMA at 3512, confirming that the broader recovery structure remains intact for now.
The stochastics are turning lower, with %K at 63.92 below %D at 66.18, indicating that upside momentum is fading after reaching elevated levels. The MACD diff remains positive at 20.19, suggesting that the longer-term recovery trend is still supported, although momentum is clearly slowing following the latest sell-off.
To confirm further downside, futures need to break below the 10 DMA at 3804, which would expose support around the 40 DMA and 100 DMA cluster at 3521–3512. A break below these levels would signal a more meaningful deterioration in the technical outlook. On the upside, futures need to reclaim the 4000 level to stabilise sentiment and confirm that the latest decline was merely corrective. For now, the sharp fall signals a loss of momentum, but the broader technical picture remains constructive while prices continue to hold above the major moving averages.
NY 2nd Month Cocoa Futures
NY cocoa futures declined on Friday, closing at 6065, down 6.04% on the session as a large red candle signalled heavy profit-taking following the strong rally seen through late June and early July. Despite the sharp decline, futures remain comfortably above the 10 DMA at 5529, the 40 DMA at 4496 and the 200 DMA at 4741, confirming that the broader recovery remains intact. The contract continues to hold above the key breakout levels at 5220 and 5765, suggesting that the move lower is corrective rather than a reversal of the trend. However, the failure to sustain gains above 6500 highlights a lack of appetite for higher prices at current levels.
The stochastics remain elevated, with %K at 85.69 and %D at 86.56, indicating that momentum remains strong but is beginning to flatten in overbought territory. The MACD diff remains firmly positive at 133.46, suggesting that underlying buying pressure continues to outweigh selling pressure despite Friday's decline.
To confirm a deeper pullback, futures need to break below support at 5765 and then test the 5220 level. A move below these levels would expose the 200 DMA at 4741. On the upside, futures need to regain momentum above 6200 and then challenge the recent highs around 6500 in order to confirm a continuation of the uptrend. For now, the indicators remain supportive, but the sharp rejection from recent highs suggests the rally may be entering a consolidation phase.
Ldn 2nd Month Cocoa Futures
