Im short on macro time on SUGAR, just look at this chart...more timefrime means more accuracy so this is looking overbought so, i think the next step will be a distribution and after a corection
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ICEUS:SB1! Oh sugar!
Looking expensive in my humble opinion!
Lows: 24.25 Highs: 27.30
We had the bullish flag formation, ever since then we been riding higher but it's at key Fib area and resistance zone! I expect sugar to pull back a little to next lows. However, we could still reach 30 area!
Have a great day ahead,
Trade Journal!
Price boost and upward momentum on Raw Sugar, after India declared that a downward revision on its sugar cane crush. Being the second largest manufacturer of sugar in the world, this news had a positive effect on the price of the raw material.
Both MACD and RSI are confirming the current trend. If it continues, the price might reach levels of 25.539
As a pivot...
I'm a little late for this trade, but I feel it's not too too late.
THis is the classic setup - you can see the recent high was 21 and the recent low is 19. Then price action bounced back up to hit 20 - the midway mark - If I had looked at this chart yesterday, I would have put a Sell Order in at 20 and I'd be in good shape already.
Anyway, I put in a Sell...
#FOOD #SUGAR
Cheap sugar is only in our dreams.
At the moment, the accumulation phase is nearing its end. The technical figure "flag" begins to be traced, the exit of the market from which, according to the canon, should take place upwards.
The first target will be the resistance level ~24.
Its breakdown will send futures with a high degree of probability to...
Let's start with observing 2W chart, here we can see that:
1) price has been grinding across the trendline, which acted as resistance
2) following rejection at the resistance, we had a move down to ~0.174 range which formed a strong support
3) If the week closes at 0.18335 or higher, we have an official breakout from this sub-structure and impulse should take it...
Let's eat candy while watching sugar prices)
* None of what i write here is not an investment advice. Please do your own research before investing in any digital asset.
* Never take my personal opinions as investment advice, you may lose your money.
● Sugar #11 - ICE (SB.F) 🕐 TF: 30D
Fig.1 USX lb (pound)
In Figure 1 , you can see the wave count from January 2021 . A continuation of the upward correction Ⓑ with the target zone 18.04-21.27 was predicted. At the moment, the set goal has been achieved, the corrective wave looks completed. The probability of resuming the decline by the final ...
Sugar hasn't moved much in the commodity space but it looks like that's about to change
The quarterly chart is especially interesting as it's been bull flagging above a key historical level - the 18 cent mark, which also corresponds with the 50 week moving average support - so there's your risk perfectly defined. You could also argue it's flagging outside of a...
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
After the retest of the Trend Line, Enter a Long Position at the closing price of the retest candlestick at 0.19536. Next, place the stop loss beneath EMA 20 Close Price 0.19441. Set Take Profit at 0.19916 and 0.20072.
![SUGARUSD: SUGARUSD [Entry Price 0.20084]](https://s3.tradingview.com/l/l1yEruZu_mid.png "SUGARUSD [Entry Price 0.20084]")
