US Sugar futures ( SB1!) has completed ABC zigzag as the part of Y wave, as mentioned in previous updates. The total sequence is WXY as double zigzag, which is well known in Elliott wave theory and mostly seen in commodities and currencies.
In last updates, we already posted the bull set up for buy a C wave, Now its over.
stay short in B wave up at around...
A bullish pattern, a cup and handle, is formed on the Sugar daily chart. Important will be a close above $ 12.30. The first target in the area $ 13.35-13.60, the second one in the area $ 14.40-14.85. The fundamental analysis agrees with the pattern.
Did a rising correction. Reached the lower line of the rising channel. It is a backtest. Sugar is in the zone of a healthy correction between 0.5 - 0.38 Fibonacci zone. Did a correction type pattern.
I expect to see a downward pressure at least to 10 or more, much more. We will see.
Hey, here is my new forecast, and don't forget to follow them because commodities are very useful after the crisis. They are one of the useful and progressive pairs compare with others. Also, they are very useful for long term trading!
I wrote all explantations and some forecast move of this pair I hope you like it. If you have any questions don't hesitate to...
the SUGAR market chart shows that there is a very high probability that this stock will experience an upward trend in the coming days
for more information please contact me on
I have decided to record the educational video about commercials because I have received very good questions that are worth answering. Thanks Michal!
Commercials provide information about WHAT IS GOING TO HAPPEN . Price Action is used for timing. That´s the biggest difference between those two worlds.
I also describe how to set the COT Index and...