Chart to Watch - Sugar

Posted on by The INO.com Team

We've asked our friend Jim Robinson of profittrading.com to provide his expert analysis of charts to our readers. Each week he'll be be analyzing a different chart using the Trade Triangles and his experience.

Today he is going to take a look at the technical picture of the October Sugar (SB.V13.E).

I hope you are having a GREAT week !!!

This week let's take a look at October Sugar.

For futures we use the weekly MarketClub Trade Triangle for trend and the daily MarketClub Trade Triangle for timing.

Sugar has put in a weekly green MarketClub trade Triangle which means the weekly time frame is pointing up as of right now.

Sugar is on a daily red MarketClub Trade Triangle which reflects the sharp move down, which could end up being a higher test of the low.

If Sugar trades higher from here and puts in a green daily MarketClub Triangle, that would help to confirm that a low could be in and higher prices could be on the way.

If Sugar continues to trade lower and puts in a new price low, then the bullish trade setup wouldn't be in effect any more as the weekly MarketClub Trade Triangle would turn red.

So right now Sugar is a good Chart to Watch as a low could be in and higher prices could be on the way.

Thanks,
Jim Robinson
Profit Trading.com

3 thoughts on “Chart to Watch - Sugar”

  1. Yes, I am fully agreed with this prediction of Market Club trade Triangle.

    Since long, i am watching Sugar, and this is one of the very few commodity which is being consolidated for more then 10+++ years, if we compare Cost escalation factor, or consider inflation adjusted pries, Sugar is highly under valued, and every possibilities are there, that we found very sharp and faster and sustainable up-ward movement and as per Technical views, SUGAR MAY BULLISH LIKE ANYTHING - BULL BULL AND BULL FACE CAN BE MORE PREDICTABLE AT THIS JUNCTURE.

    Rasesh Shukla - India

    In INR terms, (Sugar Pries in India in Indian Rupee Terms) it may touch to 4500 next 5600 and final 6000+++ per 100 Kgs.

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