Sugar and Brazil Relationship:
Since Brazil has been the leading producer of sugarcane in the world, the value of the Brazilian Real plays a significant role in the price of sugar futures. Weakness in the Brazilian Real against the US Dollar encourages Brazil's sugar producers to boost exports. The logic is that a lower Brazilian Real incentivizes Brazilian...
Gasoline Futures (RBOB Gasoline Futures) likely counter trend bounce here off 200weekSMA support at $1.66 to reclaim long-term moving average support of 50monthSMA at $1.70, then rally to test 100weekSMA resistance at $1.80.
Technical Analysis:
- Gasoline Futures (RBOB Gasoline Futures) now testing long-term support of 200weekSMA at $1.66.
- $1.66 also strong...
Technical Analysis:
1. KWEB (Chinese Internet ETF): Expect a relief bounce here for Chinese Internet stocks ( BABA BIDU JD ) with a Hong Kong ( HKDOW ) & Shanghai ( DJSH ) market rally.
a. Holding 200weekSMA and 50monthSMA support here at $44 with record volume twitter.com
b. Very oversold on weekly...
Technical Analysis:
- Double Bottom at 10.45 from August 2015
- Oversold on daily/weekly timeframes
- Retest of 5monthSMA likely @ 11.50
Fundamental Analysis:
- Look for Brazil Real bounce against USD - this will lead to less selling for $ and more domestic demand in Brazil
- Higher lows since 1985 reflecting growing demand
- Higher energy means more domestic...
