The chart of sugar futures
for me, the price has broken the steepest descending resistance before entering a period of sideways movement above the long term rising trend line
, hinting a potential bottom. MACD
is showing positive signs and Histogram continues to lose the bearish
bias before heading back above zero.
Note that according to a research by Macquarie Agricultural team, sugar
consumption is starting to exceed production,meaning more demand for the commodity then available supply.
Good Luck, join me at :