Drawing a Fibonacci Retracement from the low of 17.36 made on Feb 3, to the high of 20.46 made on April 13, we have retraced 61.8% of the up move. 18.54 is that level, which was also the low of the day yesterday, May 4, 2022.
This is the line in the sand for bulls, but considering it held, and we are about to poke our head out above the Ichimoku Cloud, the odds...
Shorting it again, SL above prior high, call it 20 even.
This is a fundamental as well as technical trade. Dollar strengthening, commodities making the turn, growth slowing, rate of inflation will slow as well.
Daily BS analysis
Sell trade with target and stop loss as shown in the chart
We entered a short position based on the downtrend data. We recommend selling from the areas shown
● 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 ...
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...
Type: Bullish Bounce
Resistance: 19.25
Pivot: 18.91
Support: 18.53
Preferred case: Price is moving nearer to the pivot level. We are expecting the price to potentially bounce off from our pivot level of 18.91 in line with 100% Fibonacci projection and 78.6% Fibonacci retracement towards our 1st resistance level of 19.25 which is in line with 23.6% Fibonacci...
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...
With the fundamental news, the long-term uptrend of the line is still supporting.
In addition, technically the EMA21 crosses above the EMA100, and the price always moves above these two lines on D1 showing that the uptrend is still there. The price has now corrected back to the daily and weekly support area, which is also the same. is the FIBO region 61.8.
=> 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...
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...
Hello,
As we can see at the chart, maybe we will have a possible move of sugar to previous highs.We can set up a long positions with a RR of 1.69.
Thanks.
This is not an investment advice , only for educational reason.
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...
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...
We were wrong in our analysis of Sugar previously, expecting it to correct with a H&S pattern before rebounding.
It simply defy logic and continues to charge higher so we added more at 14.36 where it find some temporary support.
If nothing goes wrong, then we can expect it to continue to revisit the high of 15.38 on 18 Feb 20. So, for those who missed our...
