Sugar futures

Discussion in 'Commodity Futures' started by SoCalOptionsWriter, May 7, 2023.

  1. Looking at the strong trend upward here and a recent 11 1/2 year high, anyone care to guess at what point or when a drawdown or new trend down will commence?
     
  2. Sekiyo

    Sekiyo

    Currently trend is up …
    35 is about ATH
    Let’s see.

    IMG_8345.png
     
  3. Overnight

    Overnight

    The COT report on the bottom is compelling. Back in late 2016 when the commercials and large traders were in the same position it fell 50% over the next two years. If I was forced to take a direction it would be short.
     
    Sekiyo likes this.
  4. Interesting. Might stick my toe in. Thanks.
     
  5. maxinger

    maxinger

    The uptrend started in 2020.

    It breaks the 7 year high but that is not a significant event.

    Soon it will be on a downtrend.
    It will probably happen a few months/years later.
     
    Last edited: May 7, 2023
    SoCalOptionsWriter likes this.
  6. Handle123

    Handle123

    I been selling it short/hedged. Took partial profit on April highs, don't know if they will hold.
     
    SoCalOptionsWriter likes this.
  7. CannonTrading_Ilan

    CannonTrading_Ilan Sponsor

    Monthly chart withy possible targets:
    upload_2023-5-8_6-57-1.png
     
  8. 44 years looks like this.
    Still working off overbought at $14, going higher, eventually much higher.

    $SUGAR.jpg
     
    Sekiyo likes this.
  9. maxinger

    maxinger

    upload_2023-5-8_22-17-22.jpeg upload_2023-5-8_22-17-29.jpeg upload_2023-5-8_22-18-11.png
    upload_2023-5-8_22-18-20.png [​IMG]

    Sugar is only needed to make beer.
     
    Last edited: May 8, 2023
  10. So, based only on that information, you would go short now (if forced), in the face of an obvious uptrend?
     
    #10     May 8, 2023