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...
- Advanced Pattern formation of Bat completion at D leg at 88% fib
- Structure to the left
- Potential double bottom at daily chart
- Fundamental news of 2017 May of Sugar and World Markets and Trade stating record global production keeps consumption of Sugar near record high.
- RSI divergence upwards
