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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: Jan 30, 2024Returning 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 the Commodity market, as well as Metals, markets experience strong and rapid fluctuations. Bottom line: Sugar may decline to a level lower before rising in wave 5. However, pay attention to the alternative wave count. The big context suggests a Bear market, and the short-term outlook may rise higher, while the price remains above 22.50-22.98. A drop below this level indicates that the Bear market might be resuming.
SShort
by ShaneHua
1
SUGAR: Feb 7, 2024Analyst: 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 may have completed the fourth wave (blue), you know, the common retracement target for the fourth wave is 0.382. At least it seems to have a solid basis for completion, and I am expecting a rally to higher levels in the market. Yes, the low at 23.01 needs to hold firm; what I mean is that prices must consistently stay above it for my bullish view on Sugar to remain intact. Conversely, a drop below it indicates I was wrong, and then I will return to update my latest forecasts. So, that's my forecast. Have a great time, goodbye my friends.
SLong
by ShaneHua
2
Sugar Futures Technical AnalysisSugar 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 be some minor support at $23.31, which most likely would lead to a small countertrend rally. Otherwise, the more significant support levels are down at $21.81 and $20.35.
ICEUS:SB1!
by SolarEclipseN
Decoding Sugar: Unraveling its Economic Impact and InterconnectiSugar is undeniably more than just a sweet additive to our food and beverages. It's a global commodity, instrumental in shaping economies and triggering intricate financial behaviors. But what makes sugar a commodity? How does it interact with major economic poles like oil stocks or the inflation rate? Let's dive into the intricacies of sugar as a powerful market commodity. At the core, sugar is considered a commodity due to its widespread use and significant economic implications. Predominantly used in the food and beverage industry, it is equally essential in non-food industries. For example, it is employed as a raw material in biofuel production. Additionally, it is used in pharmaceutical production and textile industries. Such multiplicity in application across varied sectors and geographic regions gives sugar its weight as a globally traded commodity. But, how does sugar, a carbohydrate used primarily in our kitchens, interact with something as significant as oil or the stock market? This might seem perplexing. In financial terms, the price changes in major resources like oil or sugar often form a reflection of the economic health. The interaction of sugar prices with oil stocks, or the stock market in general, is due to commodity indexation where commodities' futures are directly linked to financial markets. Consequently, any fluctuation in the sugar prices implies broader economic changes, including in oil and stocks. Delving deeper into sugar’s price behavior, a unique pattern makes itself apparent. It commences at a significant high, marking between $26 and $30, which aligns with wave B in the Elliott wave principle, a tool often employed in financial forecasting. A transition is projected - a substantial longer-term fall towards $9 that can be mapped out as wave C. In accompaniment with the Elliott wave theory, the Fibonacci retracements offer further insight into this journey. Significantly, the 78.6 and 88 zones in the Fibonacci sequence gravitate as crucial focus points at this low. This dip can be translated into a sharp decline of approximately 70-75% - a striking transformation in the sugar pricing landscape. In contrast, oil walks a different path. Post identifying the peak in the area above $90, a correction of about 50% is anticipated. These meticulously calculated principles not just trace the sugar price trajectory, but also invite us to peek into the strategic interplay between major economic players like sugar and oil. Deciphering these shifts and understanding their significance is vital in appreciating the broader puzzle of the global economy and how sugar, as a commodity, subtly orchestrates it. Now, what about inflation? This stealthy economic culprit has a grip on sugar prices. Sugar prices are subject to inflationary impacts, steering the price trends of this essential commodity. So, any rise or dip in sugar pricing is a strong economic indicator that can inform inflation-related forecasts. Thus, the story of sugar as a commodity is complex, weaving into the fabric of global economy, touching industries far and wide, from food to energy production, from influencing inflation to oil prices and market stocks. The sweet crystals reaching us is but the tip of the iceberg in the intricate economic saga of sugar. Sugar, without question, has a sobering influence on our global economy and daily lives. But, wouldn't it be intriguing if the sugar commodity, in its silent economic language, reveals our shared economic future? Only vigilant observation and comprehensive understanding can tell. Hence, decoding sugar is not just a necessity but an art with potential economic revelations. The bitter-sweet truth is, in the economic labyrinth, we're all part of this sugar story. ChartScope is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Technical Analysis Update - Not Financial Advice It's important to note that the following insights are intended for informational purposes only and should not be construed as financial advice. We'll be examining key indicators, chart formations, and potential trends. Remember, making informed decisions requires a comprehensive understanding of the market landscape. Stay informed, stay cautious, and as always, this is not financial advice.
ICEUS:SB1!Short
by ChartScope
Sugar #11; Dire StraitsIt is the case once again for the typical, alternating, virtually daily news bites, decrying "world sugar deficits", "Brazilian yield collapse (due to drought; El Nino)", "record Brazilian Real strength", "rising crude oil prices" versus "record Brazilian harvests", "strengthening USD" and "falling crude prices due to recession fears". The song remains the same. In reality; - Brazilian harvest prospects are doing just fine; - The recent Brazilian Real strength is likely experiencing it's end of days; - Crude oil prices, fundamentally and technically, have a far better chance to turn south than otherwise. (See this post; ) Now, factor in the clearly (very) bearish technical outlook while also noting significant short covering, as of late. E.g., the makings of very favorable SHORT Entry here. The Daily; With last week's 5 strait days of breaking lower.
ICEUS:SB1!Short
by Nemo_Confidat