Technician
Long

Sugar: Going Higher!?

ICEUSA:SB1!   Sugar #11
251 0 6
The chart of sugar             futures looks bullish 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.

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