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Sugar No. 11 FuturesSugar No. 11 FuturesSugar No. 11 Futures

Sugar No. 11 Futures

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SB1! trade ideas

Sugar Futures ( SB1!), H1 Potential for Bullish RiseType: Bullish Rise Resistance: 19.37 Pivot: 18.98 Support : 18.84 Preferred case: We are expecting the price to potentially rise from our pivot level of 18.98 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards our 1st resistance level of 19.37 which is in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Alternative scenario: Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 18.84 which is in line with previous graphical swing low support. Fundamentals: No major news.
ICEUS:SB1!Long
by Genesiv
Sugar Futures ( SB1!), H1 Potential for Bullish BounceType: Bullish Bounce Resistance: 19.25 Pivot: 18.91 Support: 18.53 Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 18.91 in line with 100% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st resistance level of 19.25 which is in line with 23.6% Fibonacci retracement and 61.8% Fibonacci projection. Alternative scenario: Otherwise, the price might break our pivot structure and trigger a dip to the 1st support level of 18.53 in line with a horizontal swing low support. Fundamentals: No major news.
ICEUS:SB1!Long
by Genesiv
July 22' Sugar #11 Futures Technical Analysis Bearish CaseGoing back to November 18, 2021, July 22’ Sugar was in a downtrend, which was broken on Mar 1, 2022 with a close of 18.12. This began a new Primary uptrend, remaining intact until April 20, 2022. Even though this trendline was broken with conviction (closing on the lows of the day April 20), the market rallied on April 21, closing at 19.81 (6 ticks from the high). This close touched that broken trendline, but this time, from the opposite side! More importantly for April 21, the market bounced off 19.49 (low of the day), which was previous major resistance (Pink Line Mar 7-10). Previous resistance tends to become support when a market is in an uptrend. Friday, April 22 brought a solid down day, taking out not only the 19.50 level, but closing below the first major Fibonacci Level (.382) of 19.29. This day brought the most volume (78.31k contracts) since April 13. April 13 was the contract high yet closed the day forming a Gravestone Doji Top. Moving onto technical indicators, the MACD (Moving Average Convergence Divergence) is currently below its 9 EMA (bearish), and below levels not seen since Mar 18 (Sugar had a high of 18.88 that day, well below where we are trading today!). This is considered Negative Divergence, as Sugar is trading higher today, then the last time period when MACD was at these levels. Bearish Case: Up trendline on a Daily chart that is broken. Daily Gravestone Doji Top completed on the contract high. Negative MACD divergence. Currently trading below the .382 Fibonacci retracement level from the previous trendline. 18.92 (50% retracement level) is very likely to be seen sooner than later. One thing to keep in mind is that 19.50 could be revisited, yet this time acting as resistance. If 19.50 is revisited, and remains intact as resistance, a close below 19.17 in needed as confirmation to continue lower. -Paul Wankmueller CMT
ICEUS:SBN2022Short
by Paul_Wankmueller
Sugar Futures ( SB1!), H1 Potential for Bullish BounceType: Bullish Bounce Resistance: 20.32 Pivot: 19.96 Support: 19.81 Preferred case: We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance. Alternative scenario: Alternatively, the price may break our pivot structure and head for 1st support at 19.81 in line with 61.8% Fibonacci retracement. Fundamentals: No major news.
ICEUS:SB1!Long
by Genesiv
Sugar Futures (SB1! ), H1 Potential for Bearish DipType : Bearish Reversal Resistance: 20.69 Pivot: 20.41 Support : 19.86 Preferred case: We see the potential for a bearish dip from our pivot at 20.41 in line with 138.2% Fibonacci extension towards our 1st support at 19.86 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by stochastic indicator where price is trading near resistance level. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 20.69 in line with 161.8% Fibonacci extension. Fundamentals: No major news
ICEUS:SB1!Short
by Genesiv
Sugar Futures ( SB1! ), H1 Potential for Bearish DipType : Bearish Dip Resistance: 20.69 Pivot: 20.36 Support :19.86 Preferred case: We see the potential for a bearish dip from our pivot at 20.36 in line with Fibonacci extension towards our 1st support at 19.86 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is trading at resistance level. Alternative scenario: Alternatively, price may break our pivot structure and head for 1st resistance at 20.69 in line with 161.8% Fibonacci extension. Fundamentals: No major news
ICEUS:SB1!Short
by Genesiv
Sugar Futures (SBK2022), H1 Potential Bearish DipType: Bearish Dip Resistance : 19.89 Pivot: 19.63 Support : 19.05 Preferred case: Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement . We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement . Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level . Alternative scenario: Otherwise, price could potentially rise to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension .. Fundamentals: No major news.
ICEUS:SBK2022
by Tickmill
1
Sugar Futures (SBK2022), H1 Potential Bearish DipType: Bearish Dip Resistance : 19.89 Pivot: 19.63 Support : 19.05 Preferred case: Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement. We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level. Alternative scenario: Otherwise, price could potentially rise to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension.. Fundamentals: No major news.
ICEUS:SBK2022Short
by Genesiv
Added more sugar at 14.36We were wrong in our analysis of Sugar previously, expecting it to correct with a H&S pattern before rebounding. It simply defy logic and continues to charge higher so we added more at 14.36 where it find some temporary support. If nothing goes wrong, then we can expect it to continue to revisit the high of 15.38 on 18 Feb 20. So, for those who missed our earlier calls to long Sugar at 12+ , I would suggest you not to come onboard now. Chasing high price just to take revenge of a missed opportunity is NEVER a good strategy as the risk reward ratio is not great to begin with and also , the chances of a correction is getting higher as it goes higher. Remember, in trading/investment, leaves your egoes aside and strictly see from the logical point of view. I know, it's easier said than done. Afterall, without the emotions of greed and fear, there probably would not be profits and losses as well......
ICEUS:SB1!Long
by dchua1969
Sugar Futures (SBK2022), H1 Potential Bearish ReversalType: Bearish Reversal Resistance : 19.89 Pivot: 19.57 Support : 19.09 Preferred case: Price is approaching our pivot level of 19.57 in line with 138.2% Fibonacci extension and 78.6% Fibonacci retracement. We see the potential for a bearish reversal towards our 1st support level of 19.09 in line with 38.2% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level. Alternative scenario: Otherwise, price could potentially go to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension and 61.8% Fibonacci projection. Fundamentals: No major news.
ICEUS:SBK2022Short
by Genesiv
Sugar Futures (SBK2022), H4 Bullish BounceType : Bullish Bounce Resistance : 19.88 Pivot: 19. 01 Support : 18.56 Preferred case: Price is near the pivot level of 19. 01 in line with 38.2% Fibonacci retracement and overlap support. We expect price to move towards 1st resistance level of 19.88 in line with 61.8% Fibonacci projection , along with a swing high resistance. Our bullish bias is supported by price trading above the Ichimoku cloud indicator. Alternative scenario: Price may break our pivot structure and head for 1st support at 18.56 in line with 61.8% Fibonacci projection . Fundamentals: No Major News.
ICEUS:SBK2022
by Tickmill
1
Sugar Futures (SBK2022), H4 Bullish BounceType : Bullish Bounce Resistance : 19.88 Pivot: 19.01 Support : 18.56 Preferred case: Price is near the pivot level of 19.01 in line with 38.2% Fibonacci retracement and overlap support. We expect price to move towards 1st resistance level of 19.88 in line with 61.8% Fibonacci projection, along with a swing high resistance. Our bullish bias is supported by price trading above the Ichimoku cloud indicator. Alternative scenario: Price may break our pivot structure and head for 1st support at 18.56 in line with 61.8% Fibonacci projection. Fundamentals: No Major News.
ICEUS:SBK2022Long
by Genesiv
Sugar Futures (SBK2022), H4 Bearish ContinuationType : Bearish Continuation Resistance : 18.95 Pivot: 18.34 Support : 17.50 Preferred case: Price is near the pivot level of 18.34 in line with a 100% Fibonacci projection. We expect price to move towards 1st support level of 17.50 in line with a graphical swing low support. Our bearish bias is supported by price trading under Ichimoku cloud indicator. Alternative scenario: Price may break our pivot structure and head for 1st resistance level at 17.50 in line with 38.2%. Fundamentals: No major news.
ICEUS:SBK2022Short
by Rockqet
Sugar Futures (SBK2022), H4 Bearish Reversal!Title: Sugar Futures ( SBK2022 ), H4 Bearish Reversal! Type : Bearish Reversal Resistance : 19. 40 Pivot: 18.99 Support : 18.34 Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection . Our bearish bias is further supported by stochastic indicator as it is trading near resistance level . Alternative scenario: Price can potentially goes up to the 1st resistance level of 19. 40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension . Fundamentals: No major news
ICEUS:SBK2022
by Tickmill
Sugar Futures (SBK2022), H4 Bearish Reversal!Title: Sugar Futures (SBK2022), H4 Bearish Reversal! Type : Bearish Reversal Resistance : 19.40 Pivot: 18.99 Support : 18.34 Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is further supported by stochastic indicator as it is trading near resistance level. Alternative scenario: Price can potentially goes up to the 1st resistance level of 19.40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension. Fundamentals: No major news
ICEUS:SBK2022Short
by Genesiv