Will Sugar Prices Crack The 15.50 Level ?

04 Dec in Blog

Sugar Futures--- Sugar futures in the March contract is currently trading higher by 14 points at 15.12 a pound reversing earlier losses as I have been recommending a bullish position since late October with an average price on 2 contracts from around the 14.74 level and if you took the trade continue to place the stop loss at 14.73, however in Wednesday's trade that will be raised to 14.84 as the chart structure is outstanding at the present time.

The commodity markets are lower across the board today due to the fact that the U.S dollar is up about 35 points as crude oil is also down about $0.70 which has put pressure on sugar in early trade, but now has regained its bullish momentum over the last couple of months.

Sugar prices are still trading above their 20 and 100 day moving average telling you that the short-term trend is higher as I will be looking at adding another bullish recommendation if prices break the 15.50 level which has been attempted on 3 different occasions only to falter every single time as that is major resistance currently.

I have other recommendations out of the soft commodity sector including coffee and cotton as the agricultural markets look to have finally bottomed out in my opinion and I do think with the Senate agreeing to the tax cuts that will be bullish the commodity markets in the long haul as the giant bearish trends are over with in my opinion.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY---AVERAGE

 

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

 Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.

Home  | Privacy Notice | Risk Disclosure | Contact Us

Trading Futures and Options on Futures transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Past performance is not necessarily indicative of future results.

Trading results obtained by a client while trading a demo account may not be indicative of the results obtained
when trading a live account due to the fact that trades are not sent to a regulated exchange but they are sent
to a simulated off-exchange server.

© 2017. Seery Futures. All Rights Reserved.