AndreasMunz
Short

SB Short

ICEUSA:SB1!   Sugar #11
Took longer to develop as the market decided to test the upper level of the 3 year trend channel

In the meantime, we had several bearish and bullish engulfing patterns and an up sloping trendline (orange) formed.

The previous highs made at 15.50 developed and formed a divergence with RSI and Stochastik. Spreads were stable but collapsed as SB             sold of on Wednesday trough Friday. This divergence in the upper timeline of the 3 year downtrend channel provided resistance.

Downside target are the lower BBand as well as 50 day MA and 100 day MA IMHO

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