Type: 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...
Type : 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...
Type : 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...
Sugar hasn't moved much in the commodity space but it looks like that's about to change The quarterly chart is especially interesting as it's been bull flagging above a key historical level - the 18 cent mark, which also corresponds with the 50 week moving average support - so there's your risk perfectly defined. You could also argue it's flagging outside of a...
We 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...
SB1! (SUGAR) is bullish. We are going for the Intermediate 5th of Primary C of the cycle be. For now, the target area is roughly $23.43 to $$24.80 which is 50% and 61.8% of fibo. This is the commodity market and in a commodity market, the 5th wave can be extended. For now invalidation level is $17.60 which is the 4th wave for now. DISCLOSURE - Please be informed...
Shorted some sugar, based one previous resistance and top of rising wedge, will keep SL tight. Look for retest of lows as indicated * Prices shown in this chart is based on OANDA, price might differ from the product traded and brokers. However the underlying principles are the same
Sugar futures reacted off to a bullish rejection block on Weekly, creating a breaker+ on Daily. It'll be interesting to see how this plays out in next few weeks. Target is the liquidity up top of the range.
Good opportunity to buy sugar.On the picture I wrote why we should buy instrument above level 20.37$ .If you have some questions about this or another instruments you are always welcome to ask me.
Good opportunity for short position below 18.73 for sugar.
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.
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.
If the resistance at 12.10 is broken up tonight or this week, then we can expect this sweet commodity to rally higher.
The pullback could emerge as a double three WXY as wave W already nears completion. Another drop then could follow in large wave C down.
Sugar and Brazil Relationship: Since Brazil has been the leading producer of sugarcane in the world, the value of the Brazilian Real plays a significant role in the price of sugar futures. Weakness in the Brazilian Real against the US Dollar encourages Brazil's sugar producers to boost exports. The logic is that a lower Brazilian Real incentivizes Brazilian...
- Sugar id front of a great resistance which fights to break it. for the moment it is in a bearish phase if it doesnt break the level of (11) with power - For the moment there is a very high probability that the market will return to test the level of (9.60) . which is going to be an important support. - And if ever it breack it there is an 80%...