Sugar Futures Higher 2nd Day In A Row
Sugar Futures--- Sugar futures are modestly higher this afternoon in New York for the 2nd day in a row currently up 7 points in the July contract traded 19.65 after Wednesday hitting a fresh two year low in price once again breaking $.20 a pound level with the next major support around 17.50 and in my opinion I think we head back down to the July 2010 lows of 15.50 like I've stated in many previous blogs here in the last several weeks due to the fact that we have a glut in supply and a lack of demand especially with the European and Chinese economic slowdown. I consider today just a kickback in price with absolutely no meaning and I believe the trend will continue to the downside in the short term. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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