Oh Sugar! I know most of us do not trade this pair, but I have managed to make so good trades from this commodity so far. I think you guys should check it out. As for commodity, I only trade Silver and Sugar. I would like to trade Gold but the lot size requirement is not for me as at now. Anyways, this pair has been bullish and has hit the monthly high, it is...
expecting a strong move higher in wave 3, on the other side and as alternate count the move lower than 18.945 will let us expect a big flat pattern in wave 2.
Type: Bullish Rise Resistance: 19.37 Pivot: 18.98 Support : 18.84 Preferred case: We are expecting the price to potentially rise from our pivot level of 18.98 in line with 78.6% Fibonacci retracement and 100% Fibonacci projection towards our 1st resistance level of 19.37 which is in line with 50% Fibonacci retracement and 61.8% Fibonacci projection. Alternative...
Going back to November 18, 2021, July 22’ Sugar was in a downtrend, which was broken on Mar 1, 2022 with a close of 18.12. This began a new Primary uptrend, remaining intact until April 20, 2022. Even though this trendline was broken with conviction (closing on the lows of the day April 20), the market rallied on April 21, closing at 19.81 (6 ticks from the...
Type: Bullish Bounce Resistance: 20.32 Pivot: 19.96 Support: 19.81 Preferred case: We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance. Alternative scenario: Alternatively, the price may break our pivot...
Type: Bullish Bounce Resistance: 1710'4 Pivot: 1690'6 Support: 1682'2 Preferred case: We see the potential for a bounce from our pivot at 1690'6 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 1710'4 in line with 100% Fibonacci projection and 161.8% Fibonacci extension. Alternative scenario: Alternatively,...
The soft commodities sector of the commodity market can be highly volatile. Historically, sugar, coffee, cotton, cocoa, and frozen concentrated orange juice futures that trade on the Intercontinental Exchange have doubled, tripled, and halved in value over short periods. While clothing and other consumer goods depend on the cotton market, the other sector members...
Sugar has no place to go but up. Look at my golden lines, replicate them on your chart and go to the monthly timeframe. Look left and see the beauty of multi timeframe analysis. Anyways, we don't control the market but I remain bullish till the market says otherwise. What's your own view on sugar???
There has been a lot of talk since the Ukraine - Russia war started that the rising prices in the agricultural sector will cause a new Bear Cycle in the stock market. Commodities have been rising across the globe as a result of an inflation build up in recent years, accelerated by the COVID pandemic, but with agriculturals in particular, the story is a little...
Buy Signal Entry - 19.06 TP#1 - 19.86 TP#2 - 20.23 SL - 18.44 **Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not indicative of future results**
Type : Bearish Reversal Resistance: 20.69 Pivot: 20.41 Support : 19.86 Preferred case: We see the potential for a bearish dip from our pivot at 20.41 in line with 138.2% Fibonacci extension towards our 1st support at 19.86 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by stochastic indicator where price is...
Type : Bearish Dip Resistance: 20.69 Pivot: 20.36 Support :19.86 Preferred case: We see the potential for a bearish dip from our pivot at 20.36 in line with Fibonacci extension towards our 1st support at 19.86 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is trading...
Hey Guys! Check this out... Bullish on Sugar. What do you think. Cheers!
Look for this to move higher shortly or will it correct some more? I think we have another wave (V) up to complete this wave. But there is some bearish divergence building up on the RSI So I think there is another corrective wave (C) down to form a running or expanding flat
Sitting through a small correction on Sugar (hopefully) this may go down to the upper medium line to hit support and then start a Wave V to the upside to target the outer warning line of the pitchfork. This is inline with a previous high which may form resistance.
remaining higher than 18.657 will reinforce the idea of wave 3 that target higher than 22, critical support at 17.746
Type: Bearish Dip Resistance : 19.89 Pivot: 19.63 Support : 19.05 Preferred case: Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement. We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price...