Looking To Buy More Sugar

Sugar Futures---Sugar futures in the March contract is currently trading higher by 7 points at 13.49 a pound as prices are still hovering right near a 5-month high continuing its bullish momentum to the upside.

President Trump tweeted today that a possible Chinese trade agreement could be at hand tomorrow as that would be a very bullish fundamental indicator towards all commodity prices as historically speaking sugar still remains exceptionally cheap. Fundamentally speaking lower worldwide supplies coupled with the fact of lower production numbers in key sugar growing regions around the world continue to push prices higher on a daily basis.

I have been recommending 3 bullish trades with an average price of 12.79 and if you took that trade continue to place the stop loss under the 10-day low which stands at 12.73 as an exit strategy, however in Monday's trade that would be raised to 12.88 as the chart structural is excellent due to the low volatility.

In my opinion I think prices will crack the 14 level soon as fundamentally and technically speaking this market remains strong as I will be looking at adding more contracts to the upside once the risk / reward becomes more in your favor so stay long.

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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