Weekly chart, SUGAR commodity has broken down support line # 2, and is heading towards #1 at around 17.12 Below that, the next target price will be 10.67 Another scenario is to rebound from Support # 1 towards 21 then 23 MACD indicator went negative, while RSI is getting into the buy area
I thought this one was pretty straightforward. Coffee looks PHENOMENAL for a long Sugar looks yucky after the huge run-up and is a shortable soft commodity hedge This stuff isn't that complicated. Supply issues get resolved in Sugar as they do in most commodities. Tbf I think Sugar is exhausted, I don't know if it will go down that much but I don't think...
For those who are still in this trade and you ´ve been patient, you could benefit from it. Big short move, surprisingly got us where we would like to be.
Based on price action, sentiment and several indicators, a good SHORT opportunity is building here. Sugar is in its 5th wave. ABC correction afterwards. NFA.
PATIENCE that´s what we will need in this possible trade. We might not see final target, therefore watch out for incoming fresh news.
COCOA is overpriced due to fundaments over the world. A slight correction would be welcomed. We might return back to the trend pattern. What's your opinion about this kind of charts ? Be careful, commodities are volatile !
Watch closely if we could make it to the double bottom.
Hello friend! in my opinion there is a high probability that sugar will bounce up from this zone. chart is a little messy i know. Good luck & DYOR!
📈 What is a Rising Wedge? The Rising Wedge is a bearish chart pattern characterized by two converging trendlines, with the lower trendline sloping upward more than the upper trendline. It typically signals a potential bearish reversal, with the price likely to break downward after the wedge pattern. 📈 How to Identify: Draw a trendline connecting at least two lower...
See chart above for analysis: HTF: -Trend = downtrend so any longs will be counter-trend and smaller risk + quick trade management recommended. -Price inside HTF daily demand LTF: -confirmation 2.0 setup as there was no quality confirmation created the first time price returned. -Price broke downward ML -Price removed opposing pivot supply. -DBR created
Possible pullback in strong larger timeframe uptrend. Confluence of weakening Volume and MACD indicators as price continues to make new highs. Fundamentals still strong, though South America upping production to compete with West African dominance.
Sugar is sitting at a major support now and there is a high probability for price to rise from this level. Happy Trading!
Sugar due for a bearish reversion to the mean. Disciplined use of a stop loss above previous pivot high as it represents a long term high price which, if broken, could see a strong bullish breakout.
Short-term short trade. Cocoa in pronounced uptrend. Opportunity for quick profit contra-trend.
During COVID-19, we saw an increase in demand for orange juice/vitamin C as people strived to increase their immunity against COVID-19. For some households, this habit remained and orange juice became the go-to leisure juice. This must have caused a squeeze on the existing supply as the demand caught orange farmers and juice producers by surprise. Can technicals...
coffeusd speculative view weekly tests and bounces from major area since 2017, and in strange feeling im leaning that coffe is about to follow orange juice basicly this shows that food is getting more expensive in the world . probably because of russia-ukraina-middle east look for short if close under 165.18 area look for long if close above 169.02...
Sugar is in an ascending trend , i think sugar will retest the support line at 25 then when it breaks all time high , it will go to 31