SB1! trade ideas
Profit taking on Sugar Unlike most stocks and indices, Sugar commodity did not resurrect itself from the March Low but rather in the month of May this year.
It is now displaying a potential H&S pattern with the left shoulder formed and in the midst of forming the right shoulder. Also, it has reached the resistance at the weekly bearish trend line as well. Will it break out from here?
Possibly, it could continue its bullish stand and ride higher OR have a healthy correction, closing the gap at 13.05 to 13.23 level before making its move higher.
I will wait for the next opportunity to accumulate more. Meanwhile, those who followed my trade call, you may want to consider taking some profits as well.
Short-term rally. EntriesI want to return to Sugar. This market doesn’t have a strong setup. However, there is a chance for a short-term trade. The seasonal tendency is to the upside. Besides, we have a divergence in the 4h chart. So, breaking above the trendline can bring us some profits.
Short SugarSugar looks like it is rolling over. If it can decisively push through the 200 week SMA (currently $13.55) I would reconsider. Until then, selling once it reaches $12.39
Obese EU NA MEX populations will fight like for toilet paperHey I'm looking more into those commodities that I understand and had success with rather than popular stocks where I ALWAYS lose (and I do not see what the purpose of short term speculators even is with stocks), or crypto that never does anything because it is dead.
Sugar this year has been doing a daily volume of usually around 2 billion usd if the ICE data is correct. Looking just at the front month it would be about 1.
With all the price controls and governments throwing subsidies at sugar farmers the futures market is only a shadow of its past glory, but the laws of supply & demand did not disappear and it still has a purpose.
At least letting governments know how much purchasing power they will have to steal from their populations to throw at wealthy farmers.
The ICE is the place to find info about sugar 11
www.theice.com
The CME tries to compete, and their site is much better than that thing above ^
They are a good place to look at.
www.cmegroup.com
Here you can find a map differentiating beet & cane producer. It is reather easy: old world christians, muslims, japanese produce beet, rest of the world south of those places makes cane sugar.
www.czarnikow.com
Climate change is surreal humour in a bubble and check weather data for yourself.
www.holiday-weather.com
www.timeanddate.com
en.tutiempo.net
Brazil no rain no rain no rain no rain
India storm storm storm storm
This summer was so cold, did not hear the media, except in august when it was hot for part of it.
Some FUD "Production will go up" "Production dropped" kek, media.
www.financialexpress.com
www.business-standard.com
The addicts will get their fix no matter what it takes no matter the price. Stronger than cocaine.
Also there is something with this time of year and the way the contract works. It's sort of like Oil 😉
Sugar hedgers reach ‘Extreme’Sugar No.11 prices held below the weekly 200 period moving average last week, topping out at 1353.6 (1) as Smart Money Hedgers added to their already large short positions, reaching an extreme (-291797.00 contracts). 50% fib, taken from the Feb highs and April lows of this year junction nicely with rising wedge support at (2), a convincing break below support will most likely see Sugar prices decline further down to the 1130/40 support zone over the short-medium term as a first target to watch out for.
Alternatively, if support holds at (2) the bulls will attempt to recapture 1353.6 followed by 1400.0 and 1420/30s in extension where another good selling opportunity could introduce itself.
Sugar futures (SB1!) - stay short after wave cycle overSugar futures (SB1!) is in 5th of C of Y wave up in double zigzag cycle in 4 hr time frame as WXY. The full cycle is about to over when price makes new high. So wait for it to complete. Go short after confirmatory move down impulse in 10 min time frame with high as stops for bigger down side correction of 5-8 % down move.
US Sugar futures ( SB1!) - stay short for bearish outlookUS 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 12.73-81 with stops above 12.97 for target range of 12.25 as support zone or lower too.
make sure that B wave is not too sharp before entering the trade set up.
Breakout in sugar futuresVery clean almost perfect breakout. Chart looks perfect, volume is a bit too low. Use caution if you buy here and get out fast if you have to protect yourself.
Getting high on SugarIf the resistance at 12.10 is broken up tonight or this week, then we can expect this sweet commodity to rally higher.
SB: SUGAR TO BUY Sugar to watch this end of June and in July, a hight probability that it will go up, when we will break the 12.25, the next target is 13.00, we can even reach the 13.50 dollars at the end of July
Bullish Cup and Handle on SugarA 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.
SB1! short bounce confirmedOverbought so, retrace on an uptrend.
after short, going long in an option when bouncing on the support line.
Sugar did it!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.
