Duration ~ 6 years Retrace 61.8% to the first peak Now 6 years & 50% retracement to the first peak from 2010. Break down through MA200 weekly may confirm the scenario.
Notice, Daily chart exhibits a substantial H&S pattern. If the daily neck-line is broken sugar prices could drop significantly from here. Daily: Notice the monthly impulse targets a retracement at the same length of the daily H&S pattern. Multi-Month/Twenty Year Chart:
I will look for confluence with indicators at the entry point -- as of now if price continues to rise from here to the completion point I will take this trade.
Take care & analyzed it again - it`s always your decision ... (for a bigger picture zoom the chart) This is only a trading capability - no recommendation !!! Buying/Selling or even only watching is always your own responsibility ... 44 COMMODITIES of Chicago, New York & londo (MA 100 & 200 inside bullish) @ drive.google.com Best regards Aaron
Market signaling profit taking and institutional hedging. Short entry: .1925 Stop: .1970 Risk: $450 per contract Target: .1725 Profit: $2000 per contract
SB has just completed a double bottom with its 2010 low at .13 (on the spot price chart - go to stockcharts.com, pull up a 5yr weekly chart using symbol $sugar). Also key is the strong bounce off of support at an increasingly narrowing descending wedge. The March15 contract has lagged behind the October14 contract in this week's rally so far, but I am expecting...