SB has sell signal based on COT report. Also seasonal trend is down. Weekly trend changed from up to down trend. The daily trend is in a down trend. Currently we see correction. My plan is to use this correction to open a shot position. Usually I risk 2% per trade, but in a Drawdown to reduce the emotional pressure I reduce the risk to 1%.
Sugar is showing some recent strength and with Cocoa prices soaring we are looking for technicals to fuel short term rally. Looking to buy May Sugar at 22.13, stop 21.54, tgt at 23.23
Returning to the current price action, I see an upward movement from the low of 20.01 to the current high of 24.59, unfolding in Three waves. The price action doesn't seem quite favorable; what I mean is that there appears to be one of the Fibonacci Multiple Relationships that is not clearly defined, and it doesn't follow the common Multiple ratios. However, in...
Analyst: Shane Hua (CEWA - Master Candidate),
Hi traders, today's forecast is on commodities. Well, commodities tend to experience rapid fluctuations, some of which bear similarities to Gold.
Previously, I forecasted that Sugar would decrease to a lower level, and it turned out to be accurate. If I remember correctly, my initial target was 22.98.
Now, I believe...
Sugar should find a temporary bottom around here as it comes into an upward trend line of support and runs into the 200-day EMA. If it were to bounce, there is some minor resistance at the $26.48 area. Otherwise, if that were to break, sugar would likely make a run to return to the highs. Now, if the 200-day EMA and the upward trend line were to break, there would...
Gan square on the price action and rsi. It’s really cool to see the fibs and gans get respected on the time part of the chart. (Any angle or verticals line= time)
The sugar price has now reached the upper border of the pink trend channel. It should now break through this line, as it should continue to rise significantly with the yellow wave b. We expect the high to be in the green target zone between USX 28.72 and USX 30.84, which will then allow for new declines.
It really doesn't get more EPIC than this 50 year chart patterns!
We will see eventually see these in classical chart trading books...
Else, I'll have to write my own book!
#silver #sugar #inflation
Sugar continues performing perfectly as anticipated. Wave 5 in progress but rally starts showing ST hesitation which might trigger a ST downside correction in the coming sessions.
We are long a Sugar spread backed by the momentum of the outright to the long side test prior highs. So far we are not getting there. BUT levels are GOLD.
