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Sugar

Sugar could become bitterThe price is lateralizing in this channel composed by the static support at $ 11.50 and the resistance identified by 78.6% of Fibonacci set at $ 13.15. This raw material, in the very short term, seems intent on retesting the high area of the channel just mentioned. On the weekly time frame it closed the week above the dynamic resistance identified by the EMA20 periods. In the short/medium term, on the other hand, the fundamental structure shows some signs of uncertainty. This idea is regarding futures prices, with an excess of stocks in Mexico. Normally that country does not propose itself as a major player in the international sugar market. Now things could change, with the nation that will be forced to increase exports to many countries, including the United States. This in order to drain the huge levels of stored product. INTL FCStone and S&P Global Platts have stated that in the 2019-2020 season, global consumption of sugar will exceed production and this is undoubtedly a good news for futures prices.   Sugar could become bitter and t he price should not be able to break the resistance at $ 13.15. The price should be pushed back on the support area around 11.50. We do not recommend any trade on this raw material, but the target areas are: in the very short term 13.15. in the short/medium term 11.50.
OANDA:SUGARUSD
by BFCMInvest
1
Sugar: Interesting uptrend here...I'm monitoring $SUGARUSD here for a weekly and daily long entry on retrace -if it ever comes-, otherwise paying up for it might be worth it, given how strong the chart looks. Could sharply rise from this juncture immediately after the market opens too. The targets on chart are the weekly range targets, corresponding to a Time@Mode signal active as long as we hold over 0.1236. The daily has a bullish trend as well, which kicked in on Friday. Entering at market or on dips would be a viable trade. Best of luck, Ivan Labrie.
OANDA:SUGARUSDLong
by IvanLabrie
POSSIBLE SHORT SETUP?Sugar looks to be forming a short setup due to double-top and indecision around ichimoku cloud. Short setup is not yet confirmed as market has not given a clear direction as of yet but this is one to keep a close eye on for drop to targets identified by yellow lines in chart. HELPFUL VIDEOS TO TEACH YOU: www.youtube.com www.youtube.com DISCLAIMER; Do set stop losses when trading but be generous with how much room you allow for this due to candle wicks and there is also the possibility to hedge yourself, for more confident traders. All comments and questions welcome, if curious about indicators I use then feel free to inquire. IF YOU SUPPORT IDEAS, DO LIKE, FOLLOW & SHARE. ~ THANKS! ~
OANDA:SUGARUSD
by Dani0