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with commodities going up i see sugar continuing his bullish rampage till the end of april, that corresponds at the end of this contract. i see it touching 20 before the closing of the contract.
fundamental side - Brazil is switching production from ethanol to sugar, because of low oil prices - India and other countries in Asia have a lower sugar production because of bad weather conditions
I have attempted to scale both of these commodities appropriately to fit the chart. The price action correlation between the two commodities is undeniable. Sugar's overnight jump could present opportunity to silver as well. #inflation
Sugar is confidently surging for now into this thin zone toward 20. Consumer inflation will be felt when food prices are soon passed on, similarly with Oil and other commodities. Broad implications economically but when will the true inflationary pressures be communicated? See my cursive inflationary pressure roadmap for the next 5 years attached. Peace
Hello everyone, if you like the idea, do not forget to support with a like and follow. SUGAR is approaching strong resistance in blue from Weekly (0.17-0.18) so we will be looking for sell setups on lower timeframes. on H1: SUGAR formed a channel in red but it is not ready to go yet. We want the sellers to prove that they are taking over by breaking below...
Dhampur Sugar seems to be getting ready to test level of 230 where its all time resistance zone exists. Risk reward is favourable for a long setup with a stop below 150.
SUGARUSD Engulfing Candle
SUGARUSD (Sugar) Entry Price 0.16016
bad harvest - demand is high -small of offers. what do you think?
After our last profit on this interesting market sugar reached the resistance zone at 0.15850 level. The price is still moving inside a daily ascending channel and testing now the resistance. IF the price will break above we can check, according to Plancton's strategy, for a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly...
Sugar forming double top on the daily chart. If the daily candle close below the horizontal line that's a good short signal. if it close above the line, then need to wait to confirm because maybe that's a fake breakout.
This chart says enough. The fact it's a spicy sugar daddy joke makes it an even better. DXY looks like it will continue to fall. My broker gives 12x leverage, so if it sugar hits my target, it's around a 6x return. That means sugar is a buy and hold. Fibs, moving averages, keltner channels all indicate a buy. Good luck out there.