Raw Sugar (SB) is trying to halt a 3 week plus slide from its 2022 high, but remains vulnerable to deepening in its consolidation and retesting the March low sometime in May. Nevertheless, SB does not appear to be forming a Double Top-like pattern (on the weekly chart) as the April high was comfortably above the November high (on the July contract)…
SB is showing early signs of trying to halt its near 2 week consolidation with yesterday’s 1% plus rebound. Nevertheless, SB’s upchannel support (on the weekly chart) remains at risk of breaking next week after Wednesday’s slide below the daily chart ascending wedge support…
SB spent the past week consolidating the Bull Flag extension from the prior week, closing the Good Friday holiday-shortened week around the psychologically key 0.20 whole figure level. Odds are moderately high for a test of the 2017 high before month end…
Raw Sugar (SB) gained more than 1% yesterday, briefly breaking above the psychologically key 0.20 whole figure level. Significantly, SB is extending its rally from triangle resistance (on the daily chart), arguably completing a massive Bull Flag consolidation since September…
Raw Sugar (SB) consolidated yesterday for a 4th straight day within a near complete triangle (on the daily chart). Significantly, SB is bouncing off the prior downchannel resistance (on the weekly chart), from just below the 50% Fib retrace of the early March rally…
Raw Sugar (SB) edged higher with its daily Gravestone yesterday, showing renewed efforts at halting the slide from last week’s high. Significantly, odds are high for SB to find support at the prior downchannel resistance (on the weekly chart), which also happens to be between the 50% and 61.8% Fib retrace of the early March rally…
Raw Sugar (SB) surged more than 1.5% yesterday, gaining for a 3rd straight day. Significantly, SB is suddenly at a 2022 high, and has reclaimed the 50% Fib retrace of the November to February slide…
Raw Sugar (SB) edged lower yesterday, continuing a roughly week long slide erasing last week’s gains. Significantly, with SB’s failure these past 2 weeks to hold onto prior uptrend support (on the weekly chart), SB appears poised to retest the January low by sometime in February…
Raw Sugar (SB) slid a massive near 3% yesterday, closing at downchannel support (on the 4hr chart). Significantly, SB gave up yesterday the psychologically key .17 whole figure level, and has clearly been rejected by upchannel resistance (on the weekly chart)…
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