sugar is either broken or you better buy all you can right now weekly volume exceeds all volume for the past two years, and it's only the first day of the week wtf pretty confirmed here imo
A strong break up will invalidate setup
The fifth wave is performing in diagonal triangle.After the completion of wave 5, the market is expected to make a significant rally.
Is time to put in watchlist Sugar. We are close to the main supports so we have two levels to place a buy. I think the better level should be 10 but the upper one is still attractive.
A Bigger Price range is obvious and we are just sitting on the bottom right on the support zone which could offer a nice long entry after a certain price action signals . Something like a break n close through a h4 flip zone here would give me confidence and confirmation to enter a long position . A break of the 200 ma would also be a nice sign for me that we...
1. Sugar seems to be completing 4th wave of the down move. 2. 4th wave has (slightly running) flat structure. 3. It looks on the chart and in particular on MACD that last 4-5 weeks it is incapable to move significantly up from the bottom of the range. It seems ready to break down. 4. Previous month volume spike on big red candle also supports the idea of selling...
SUGAR Long Opportunity ---------------------- Elektro Analysis
NSE:DHAMPURSUG RSI reversal possible, the price is about to touch the support. A bullish candle will confirm the uptrend. Disclaimer: Consult your financial advisor before investing.
Although in the next days the price increase can continue up to 0.1536 level, the gray support line does not look strong enough, which means 0.1133 can be seen in the mid-run, the price can hit its long run support level.
This trade will be active on monday morning ,,, More update will follow ,,, Good Luck All ,,,
Sugar is in a long running flat correction. The wave Y could reach out to the 0.1580 area (where Y=W) before it drops. It could also exceed it with further Fibonacci ratios 1.27-1.618. Wait for reversal pattern at the top.
I love Sugar.... I love the Dividends. RSI had a good run, benefited from low energy costs. I am taking profit to keep cash on the side-line for the inevitable mrkt correction. I will re-enter below 5.65 if the fundamentals stay solid. On Balance Volume is weakening, this could be an indicator that investors are switching to cash or trading to high flying...
1/SB1! as u see the inverse of sugar with that of gold.