NY 2nd Month Sugar Futures
NY sugar futures edged higher on Thursday as continued buying pressure saw prices close at 20.32, maintaining the break above the psychological 20.00 level. Futures remain comfortably above the 10 DMA at 19.84 and the 40 DMA at 19.06, while the rising 100 DMA at 16.95 continues to provide longer-term support. The constructive alignment above all three moving averages confirms the broader bullish trend, although futures continue to encounter resistance around 20.30–20.40.
The stochastics are rising, with %K/%D diverging on the upside at 96.06/92.62. Both lines are deep in overbought territory, signalling strong buying momentum but also showing that the advance is becoming increasingly stretched. The MACD diff is positive and diverging at 0.0878, with the MACD line at 0.4416 above the signal line at 0.3539, confirming continued buying pressure and supporting the bullish outlook.
To confirm the outlook for higher prices, futures need to sustain the break above 20.30 and take out resistance around 20.40. A close above this area could set the scene for a move towards 20.50, followed by the psychological 21.00 level. On the downside, a failure to retain support above 20.00 could trigger a test of the 10 DMA at 19.84. A close below this average would weaken the immediate bullish momentum and bring 19.50 into focus, followed by the more robust support of the 40 DMA at 19.06.
Ldn 2nd Month Sugar Futures
Ldn sugar futures edged higher on Thursday as renewed buying interest saw prices close at 574.50, returning to the upper end of the recent range. Futures remain well above the 10 DMA at 563.54 and the 40 DMA at 534.57, while the rising 100 DMA at 492.05 continues to reinforce the broader upward trend. The positive alignment above all three moving averages maintains the bullish technical structure, although repeated hesitation around 575 suggests that the market is approaching an important resistance area.
The stochastics are rising, with %K/%D diverging on the upside at 94.40/90.98. Both lines are deep in overbought territory, confirming strong buying momentum but also signalling increasingly stretched conditions. The MACD diff is positive and diverging at 3.1022, with the MACD line at 13.937 above the signal line at 10.835, highlighting sustained buying pressure and supporting the outlook for further gains.
To confirm the outlook for higher prices, futures need to break above resistance at 575 and establish support beyond this level. A sustained close above 575 could set the scene for a test of 580, before the psychological 600 level comes into focus. On the downside, failure to retain support above 570 could trigger a pullback towards the 10 DMA at 563.54. A close below this average would weaken the immediate bullish momentum and bring 550 into focus, while a deeper correction could target the 40 DMA at 534.57.
NY 2nd Month Coffee Futures
NY coffee futures held broadly unchanged on Thursday as the market struggled for direction and closed at 285.35. Futures remained marginally above the 10 DMA at 285.12 but below the 40 and 100 DMAs at 291.74 and 292.97, respectively. The close beneath these closely aligned longer-term averages leaves robust resistance around 292–293 and keeps the broader technical structure under pressure. Nevertheless, the market continues to consolidate above the September lows, with 280 providing immediate support.
The stochastics are falling, with %K/%D at 37.79/46.34 and %K below %D, signalling fading buying momentum and some appetite for lower prices. Conversely, the MACD diff remains positive at 1.89, with the MACD line at -1.73 above the signal line at -3.62, suggesting that underlying selling pressure continues to moderate. However, both MACD lines remain below zero and the differential is narrow, leaving the improvement in momentum without firm bullish confirmation.
To confirm the outlook for lower prices, futures need to break below the 10 DMA at 285.12 and take out support at 280. A sustained close below this level could set the scene for a move towards 275, followed by the more robust support around 270. On the upside, futures need to hold above the 10 DMA and break through the 40 and 100 DMAs at 291.74 and 292.97. A close above this resistance area could trigger a test of 300 and confirm a stronger recovery.
Lnd 2nd Month Coffee Futures
Ldn coffee futures fell sharply on Thursday as renewed selling pressure saw prices close at 3364. Futures moved decisively below the closely aligned 10 and 40 DMAs at 3460 and 3465, respectively, and remained well beneath the 100 DMA at 3584. The rejection from the 3550–3600 area has therefore restored the bearish moving-average structure, while the latest close brings the market closer to the September support zone.
The stochastics are falling sharply, with %K/%D diverging on the downside at 2.32/28.53. %K has moved deep into oversold territory, signalling strong bearish momentum but also showing that the decline is becoming increasingly stretched. The MACD diff remains positive at 6.59, with the MACD line at -15.29 above the signal line at -21.89, suggesting that broader selling pressure has not yet accelerated materially. However, both lines remain below zero and the positive differential is narrowing, weakening the previously improving momentum signal.
To confirm the outlook for lower prices, futures need to remain below 3400 and break through support around 3350. A sustained close below this level could set the scene for a move towards 3300, followed by the September low around 3220–3250. On the upside, the deeply oversold stochastics could support a technical rebound, but futures need to recover above 3400 before testing the 10 and 40 DMAs at 3460 and 3465. A close above this moving-average resistance would ease the immediate bearish pressure, while a break above the 100 DMA at 3584 would be required to confirm a more sustained recovery.
NY 2nd Month Cocoa Futures
NY cocoa futures edged higher on Thursday as buying pressure saw prices close at 5927. Futures settled above the 10 DMA at 5828 and marginally above the 40 DMA at 5906, improving the short-term technical structure after several sessions of consolidation below 6000. The rising 100 DMA at 5436 remains comfortably below the market, preserving the broader constructive trend. However, the narrow break above the 40 DMA requires confirmation, while the psychological 6000 level continues to provide immediate resistance.
The stochastics remain elevated, but %K has crossed below %D at 67.76/71.59. This downside crossover signals that buying momentum is beginning to soften after the recent recovery and could restrict the market’s ability to sustain an immediate break higher. Conversely, the MACD diff is positive and diverging at 31.64, with the MACD line at 1.30 above the signal line at -30.33. The MACD line has also moved marginally above zero, strengthening the improvement in the broader momentum structure and confirming that selling pressure has continued to recede.
To confirm the outlook for higher prices, futures need to remain above the 40 DMA at 5906 and break through resistance at 6000. A sustained close above this level could set the scene for a move towards 6200, followed by the more robust resistance around 6500. On the downside, a failure to retain support above the 40 DMA could trigger a test of the 10 DMA at 5828. A close below this average would weaken the recent recovery and bring 5700 into focus, followed by 5500 and the 100 DMA at 5436.
Ldn 2nd Month Cocoa Futures
