$SGG I'd be watching sugar it volume picks up, bu
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Posted On: 03/05/2018 4:48:12 PM
$SGG I'd be watching sugar it volume picks up, but it hep cause me diaberes, so screw it. Others might like it?
http://stockcharts.com/h-sc/ui?s=SGG&p=D&...4781892648
Story>>>>
Sugar Drops Below The Bottom End Of Its Trading Range
https://seekingalpha.com/article/4152854-suga...t-77874659
Summary
Awaiting the next double-bottom or double-top.
March rolls to May and the price and open interest drops.
Sugar's pulse has weakened.
Significant lows give way and the price bounces.
Surplus can quickly turn to deficit; risk/reward favors higher and CANE could offer sweet returns.
World sugar futures that trade on the Intercontinental Exchange are in the final stages of rolling from March to May, meaning that open interest on the March futures has declined dramatically and the longs and shorts in the front month have transferred their risk to the now active month May contract. Sugar has been trading in a range from 12.53-15.49 cents per pound since late May 2017. For almost ten months, the price of the sweet commodity has been in a trading band after a steep decline from 23.90 cents in October 2016 to lows of 12.53 cents in late June of 2017.
The price of sugar fell as a deficit turned to a surplus in the market. The shortage of sugar that developed at the August 2015 lows of 10.13 caused the price of world sugar to more than double in price in a fourteen month period. However, the higher price resulted in an increase in production which swung the market deficit into a glut in the sugar market leading to the decline. Sugar made a higher low in June 2017, and the price has since been trading in a range where it has been in consolidation mode.
Awaiting the next double-bottom or double-top
Since last August, the now expired March contract has made a series of double tops or double bottoms on consecutive trading days close to the high or low of the trading range. In each case, the price of the sweet commodity reversed, and these double tops and bottoms served as a signal to sell or buy for traders.
http://stockcharts.com/h-sc/ui?s=SGG&p=D&...4781892648
Story>>>>
Sugar Drops Below The Bottom End Of Its Trading Range
https://seekingalpha.com/article/4152854-suga...t-77874659
Summary
Awaiting the next double-bottom or double-top.
March rolls to May and the price and open interest drops.
Sugar's pulse has weakened.
Significant lows give way and the price bounces.
Surplus can quickly turn to deficit; risk/reward favors higher and CANE could offer sweet returns.
World sugar futures that trade on the Intercontinental Exchange are in the final stages of rolling from March to May, meaning that open interest on the March futures has declined dramatically and the longs and shorts in the front month have transferred their risk to the now active month May contract. Sugar has been trading in a range from 12.53-15.49 cents per pound since late May 2017. For almost ten months, the price of the sweet commodity has been in a trading band after a steep decline from 23.90 cents in October 2016 to lows of 12.53 cents in late June of 2017.
The price of sugar fell as a deficit turned to a surplus in the market. The shortage of sugar that developed at the August 2015 lows of 10.13 caused the price of world sugar to more than double in price in a fourteen month period. However, the higher price resulted in an increase in production which swung the market deficit into a glut in the sugar market leading to the decline. Sugar made a higher low in June 2017, and the price has since been trading in a range where it has been in consolidation mode.
Awaiting the next double-bottom or double-top
Since last August, the now expired March contract has made a series of double tops or double bottoms on consecutive trading days close to the high or low of the trading range. In each case, the price of the sweet commodity reversed, and these double tops and bottoms served as a signal to sell or buy for traders.
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