Sugar Daily Jun 14, 2024

Raw sugar (SB) gained nearly 3% yesterday (on the October contract) on growing momentum on the bounce off the 2024 low. Any reclaiming of the May high and the psychologically key 20 whole figure level will dramatically increase the likelihood of a test of descending wedge resistance (on the weekly chart) in the few days after…

Sugar Daily Jun 12, 2024

Raw sugar (SB) edged more than 0.5% higher yesterday with its daily Doji (on the July contract) trying to avoid sliding back to the 2024 low. Nevertheless, with a weekly Doji also trying to form just above descending wedge support (on the weekly chart), SB’s bounce off just above May’s 2024 low has tired and may be merely short covering from the lowest level since November 2022…

Sugar Daily Jun 11, 2024

Raw sugar (SB) slid nearly 2% yesterday (on the July contract) closing once again near the 2024 low. With SB retesting descending wedge support (on the weekly chart), its bounce off just above May’s 2024 low appears to be tiring and may be merely short covering from the lowest level since November 2022…

Sugar Daily Jun 10, 2024

Raw sugar (SB) slid more than 1% Friday (on the July contract) for the 1st red daily candle in 6 days. Although SB has reclaimed descending wedge support (on the weekly chart) in its bounce off just above May’s 2024 low, it may be merely short covering from the lowest level since November 2022…

Sugar Daily Jun 7, 2024

Raw sugar (SB) edged nearly 0.5% higher yesterday (on the July contract), gaining for a 5th straight day in its bounce off just above May’s 2024 low. Although SB has now reclaimed descending wedge support (on the weekly chart), it may be merely short covering from the lowest level since November 2022…

Sugar Daily Jun 6, 2024

Raw sugar (SB) surged nearly 1.5% yesterday (on the July contract), gaining for a 4th straight day in its bounce off just above May’s 2024 low. Although SB has now reclaimed descending wedge support (on the weekly chart), it may be merely short covering from the lowest level since November 2022…

Sugar Daily Jun 5, 2024

Raw sugar (SB) edged nearly 0.5% higher yesterday (on the July contract), continuing the bounce off just above May’s 2024 low. Although SB has now reclaimed descending wedge support (on the weekly chart), it may be merely short covering from the lowest level since November 2022…