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Commodities

Sugar (SB)

Luis Ricardo Guizado

Luis Ricardo Guizado

— 2 min read
Sugar (SB)

Macro 🚀 BULLISHHH 🚀

We broke the bullish market structure on a higher time frame. Price is making higher highs and we are currently at the best risk rewards area. Previous low of $17.20 must remain untapped for bullish continuation. If we do break $17 then most likely we’ll be expecting a retrace towards the $14 price range but for now it looks great MACRO

https://www.tradingview.com/x/nRpGlK2c/

As suggested in our previous Commodities Weekly Recap Edition #1 price did a small retrace towards the low $18’s and hit our target perfectly for a profit of 5% from this swing trade. 

https://www.tradingview.com/x/GvqpctMW/ 

Price is holding well so far but ideally $18.8 must hold.

If we lose this level then $18.4 should be the next area of interest.

As long as we DO NOT break below $18.30, bullish momentum should continue.  

https://www.tradingview.com/x/awysscMr/

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