It is the case once again for the typical, alternating, virtually daily news bites, decrying "world sugar deficits", "Brazilian yield collapse (due to drought; El Nino)", "record Brazilian Real strength", "rising crude oil prices" versus "record Brazilian harvests", "strengthening USD" and "falling crude prices due to recession fears". The song remains the...
Im short on macro time on SUGAR, just look at this chart...more timefrime means more accuracy so this is looking overbought so, i think the next step will be a distribution and after a corection
ICEUS:SB1! Oh sugar! Looking expensive in my humble opinion! Lows: 24.25 Highs: 27.30 We had the bullish flag formation, ever since then we been riding higher but it's at key Fib area and resistance zone! I expect sugar to pull back a little to next lows. However, we could still reach 30 area! Have a great day ahead, Trade Journal!
I'm a little late for this trade, but I feel it's not too too late. THis is the classic setup - you can see the recent high was 21 and the recent low is 19. Then price action bounced back up to hit 20 - the midway mark - If I had looked at this chart yesterday, I would have put a Sell Order in at 20 and I'd be in good shape already. Anyway, I put in a Sell...
Let's start with observing 2W chart, here we can see that: 1) price has been grinding across the trendline, which acted as resistance 2) following rejection at the resistance, we had a move down to ~0.174 range which formed a strong support 3) If the week closes at 0.18335 or higher, we have an official breakout from this sub-structure and impulse should take it...
SUGARUSD Entry at 0.19082. In the chart shown below, I used the symmetrical chart pattern to enter early. I entered before the planned breakout at price level 0.19318. The chart shown below is the current status.
SUGARUSD. Wait For A Close Above 0.19318. Wait For Price To Close Above 0.19318. After the close, watch for a price action signal.
I firmly believe raw sugar futures are set to continue their upward trend seen for months now. While they have consolidated for a time and recently dipped below temporary support, which could be mistaken for a trend breakout, I believe we are simply seeing a sell-off as a reaction to the futures having floated highly above the trendline for a long time. As pointed...
Sugar will have an awful hard time to go any higher here, climbing into multi-year major resistance. A sustained decline should take Sugar substantially lower into year's end. Ample grain and bio-fuel stocks are also a prelude to an over-supply imbalance. (Not to mention substantially lower crude oil prices on the horizon.) This is a low-risk spot to initiate a ...
According to Investopedia , Brazil is top leading sugar producer globally. So , we take a look at its currency; USDBRL and discovered that since Jan 2020, it has appreciated against the USD for more than 50%. This trend should continue towards the rest of 2020 and likely the first half of 2021 too. That being the backdrop, then we can assume sugar price to...
The recent pullback from 15.50 resistance did shake out some players but the fundamental story remains the same (Lower production on the softs though a risk of Indian Exports continues to hound the market. Actually, buying near the lower end of the channel for the past couple of days with a wide stop and proper sizing would enable a trader to catch and on to it as...
Sugar looks like a textbook basing out here. What is key now is to get a recoil before the break of 15.50. So far so good. Target price of $24.
ICEUS:SB1! Sell it hard!!
I want to return to Sugar. This market doesn’t have a strong setup. However, there is a chance for a short-term trade. The seasonal tendency is to the upside. Besides, we have a divergence in the 4h chart. So, breaking above the trendline can bring us some profits.
Hey I'm looking more into those commodities that I understand and had success with rather than popular stocks where I ALWAYS lose (and I do not see what the purpose of short term speculators even is with stocks), or crypto that never does anything because it is dead. Sugar this year has been doing a daily volume of usually around 2 billion usd if the ICE data is...
Very clean almost perfect breakout. Chart looks perfect, volume is a bit too low. Use caution if you buy here and get out fast if you have to protect yourself.
A bullish pattern, a cup and handle, is formed on the Sugar daily chart. Important will be a close above $ 12.30. The first target in the area $ 13.35-13.60, the second one in the area $ 14.40-14.85. The fundamental analysis agrees with the pattern.
🍦 The future of sugar futures looks sweet. Sugar futures have been trending well recently, with levels being constantly respected, so the chart is attractive from that perspective. It is especially attractive for the bulls given the current recovery on the back of the COVID correction. With that in mind, despite the bullish price action, this hot sugar chart...