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March sugar (SBH26) futures current a shopping for alternative on extra value power.
See on the each day bar chart for March sugar futures that costs are trending increased. See, too, on the backside of the chart that the shifting common convergence divergence (MACD) indicator is in a bullish posture because the crimson MACD line is above the blue set off line and each traces are trending up. The bull have the general near-term technical benefit.
Essentially, sugar costs have risen as a result of less-than-ideal climate circumstances in main sugar-producing international locations like India and Thailand. Stronger world demand can also be price-friendly for sugar. The shift by some international locations to producing extra ethanol for gas can also be bullish for sugar.
A transfer in March sugar futures above chart resistance on the November excessive of 15.05 cents would give the bulls extra energy and it might additionally turn out to be a shopping for alternative. The upside value goal could be 17.50 cents, or above. Technical assist, for which to position a protecting promote cease slightly below, is situated on the November low of 14.04 cents.
IMPORTANT NOTE: I’m not a futures dealer and don’t handle any buying and selling accounts aside from my very own private account. It’s my objective to level out to you potential buying and selling alternatives. Nonetheless, it’s as much as you to: (1) determine when and if you wish to provoke any trades and (2) decide the dimensions of any trades you could provoke. Any trades I focus on are hypothetical in nature.
Here’s what the Commodity Futures Buying and selling Fee (CFTC) has mentioned about futures buying and selling (and I agree 100%):
Buying and selling commodity futures and choices isn’t for everybody. IT IS A VOLATILE, COMPLEX AND RISKY BUSINESS. Earlier than you make investments any cash in futures or choices contracts, it’s best to think about your monetary expertise, objectives and monetary sources, and know the way a lot you may afford to lose above and past your preliminary fee to a dealer. It is best to perceive commodity futures and choices contracts and your obligations in getting into into these contracts. It is best to perceive your publicity to threat and different facets of buying and selling by completely reviewing the chance disclosure paperwork your dealer is required to provide you.
On the date of publication, Jim Wyckoff didn’t have (both instantly or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions. This text was initially revealed on Barchart.com
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