Chart of Interest - Sugar

Posted by Graham Parlane on 8 March 2013

Hi

I’ve been stalking this one for a while now. Wedge formations are notoriously long lasting so patience has been required.

Interestingly I cannot find a lot of buzz on the wires (which I like!) about the latest move apart from expectations thatChina’s imports will rise in Q1

1)     Long term picture – The price of Sugar has halved over the last 2 years

Click here to view chart

2)     A closer look. The suggestion here is that Sugar broke below the long term support line but quickly reversed and then days later has bounded higher again. Could this be a very significant and long term low in place now?

Closer look – click here to view chart

I’ll be watching the news wires to see if there is a developing Sugar story over coming days and weeks.

Cheers G.

Tags: Broker, CFD trading, CFDs, Commodities, Equities, Futures, Futures trading, Sugar, Trader