Raw sugar (SB) slid more than 1% yesterday and appears increasingly vulnerable this week to deepening in its consolidation from the 2023 high (formed in Apr). Any test of its record high (formed Feb 2011 and seen easier on a monthly chart on tradingview.com) will likely have to wait until sometime in 2024…
This week’s big news event will be the FOMC on Wednesday with the expectation that the Fed’s QE finally coming to an end. Given that US corporate earnings have largely been better than expected, it is highly unlikely that the Fed change its mind on ending QE this month as had previously been suggested. EitherRead More
