Sugar Prices Higher 4th Day In A Row

Sugar Futures---Sugar futures in the March contract is trading higher for the 4th consecutive session up another 24 points at 12.83 hitting a 6-week high. I have been recommending a bullish position originally from around the 12.62 level then adding another contract today around the 12.73 level as it looks to me that prices will retest the 13.00 area in the coming days ahead.

The chart structure at the current time is outstanding and if you took both of these trades continue to place the stop-loss at the 12.29 level as the risk on both contracts is around $800 plus slippage and commission.

The volatility has been extremely low over the last several weeks as it is nice to see a 1.83% move in today's trade as historically speaking prices look very cheap in my opinion as I think prices have finally bottomed out. Sugar prices are now trading above their 20 and 100 day moving average for the 1st time in months and that tells you that the trend has turned higher so continue to place the proper stop loss.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

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

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