Market Overview

Technical Forecast for Sugar

Technical Forecast for Sugar


Sugar #11 hovering between 16.65 & August lows at 16.26 for about 2 weeks now. The general rule is to trade the range and wait for a breakout. A break lower sees 16.22 but below here we could target 16.09.


Immediate resistance at 16.50/54 could hold the topside but above here look for another test of 16.65/67 for a selling opportunity. We need stops on shorts above 16.70 however as a break higher should target 16.77 for an excellent selling opportunity.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Commodities Markets Trading Ideas


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