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Chart to Watch - Sugar

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

Comments

  1. Rasesh Shukla -India says:

    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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