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Is It Time To Get Back In To Sugar?

ByChris Kimble
Published 10/01/2018, 03:55 PM
Updated 07/09/2023, 06:31 AM

Sugar

Sugar has experienced some sour times over the past couple of years, as it has declined nearly 50%. Could these declines be creating a “sweet opportunity?” It's Possible.

Sugar has spent the majority of the past 30-Years inside of rising channel (1). The 50% decline over the past 24-months has it testing the bottom of this long-term rising channel at (2). At the same time it is testing channel support, it is testing 2015 lows as well.

No doubt the trend remains down and if sugar fails to find support at (2), its bear market trend will remain solidly in play and could pick up downside momentum.

Commodity traders want to keep a close eye on Sugar in case it sees a counter-trend rally and breaks above resistance at (3). If it does, it will surprise traders, as bullish sentiment according to Sentimentrader.com stands at just 23% bulls.

Latest comments

what's the ticker for sugar #11 Chris?
I've dabbled in Sugar, but never really committed anything significant to it.  What exactly drives the sugar market?  Is there a majority growing country like India or Brazil?  Is there a primary consumer like the U.S.?  And with the commercial trend to find anything but sugar for sweeteners (erithryol, stevia, splenda, etc.) is there any reason to buy sugar fundamentally?  I'm just waiting for that headline that reads: "Sugar actually better for you than the alternatives".  Like when Butter became popular again after Margarine got thwacked by all the food-purists.  I notice the commercial beverage makers are using a like of "cane sugar" again; perhaps the purists are back and its only a matter of time before the headlines pick it up?
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