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Sugar: A Bear Trap Has Sprung

By Peter BrandtCommoditiesMay 14, 2014 11:00AM ET
www.investing.com/analysis/sugar:-a-bear-trap-has-sprung-212825
Sugar: A Bear Trap Has Sprung
By Peter Brandt   |  May 14, 2014 11:00AM ET
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The decline in July Sugar on May 6 completed a 9-week symmetrical triangle top. This decline should have led to a follow through, taking prices back to 16, or so.

Instead, the decline halted, prices stabilized and the strong advance on Tuesday, May 13 is an indication that the May-6 decline was simply a bear trap.

The market should now advance to a target of 19.72.

Sugar: Daily
Sugar: Daily

It should be noted on the weekly graph that the bear market from the early 2011 highs appears to have ended. A likely target is the test of the 2013 high at 20.16.

Sugar: Weekly
Sugar: Weekly

Sugar: A Bear Trap Has Sprung
 

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Sugar: A Bear Trap Has Sprung

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Sumit Nevtia
Sumit Nevtia Oct 29, 2014 6:24AM ET
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sugar price looks going towards 455
 
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