Notice, Daily chart exhibits a substantial H&S pattern. If the daily neck-line is broken sugar prices could drop significantly from here.
Daily:
Notice the monthly impulse targets a retracement at the same length of the daily H&S pattern.
Multi-Month/Twenty Year Chart:
I will look for confluence with indicators at the entry point -- as of now if price continues to rise from here to the completion point I will take this trade.
There is a consolidation pattern near the
Resistance Zone.
From the price action, we can see stronger
selling pressure than buying pressure.
If the price managed to break the buyers' stop loss
level, we expect the price will fall further lower.
Here are 2 trading plans for you:
1. Wait the price to break the buyers' Stop Loss level
and entry
2. If the price...
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
44 COMMODITIES of Chicago, New York & londo (MA 100 & 200 inside bullish) @ drive.google.com
Best regards
Aaron
