Sugar

Thursday  9 March 2017

Buy a half-position in May sugar market, [18.60]

Use 17.86 as a sell stop.

Price has returned to a strong rally breakout that began
in December 2016.  Buyers typically defend their positions
when retested.  Developing market activity shows a large
volume surge yesterday near the close, indicating buying.
There is also a small gap opening higher this morning,
and that indicates buyers willing to step up, again.

These gaps do not always hold, as this is intra day activity,
but when they do, they are excellent hindsight indicators.

We could be wrong in the assessment, hence recommending
only a half-position at a reasonable risk level so today’s
activity can be monitored in response to yesterday.

This entry was posted in Trade Recommendations. Bookmark the permalink.