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US Sugar #11 Futures - May 24 (SBK4)

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Symbol
Exchange
Currency
SBDerivedUSD
SARTSc1MoscowRUB
SBc1ICEUSD
SBc2ICEUSD
SBc3ICEUSD
SBc4ICEUSD
SBc5ICEUSD
SBc6ICEUSD
SBc7ICEUSD
Currency in USD
Disclaimer
19.86
+0.06(+0.30%)
Closed

US Sugar #11 Futures Discussions

COT was Less Short, so a PB is expected. Today shows a BEAR Flag ... another BUY Opp 20.40-60 Range.
As expected 21.30 held so far. One hour before the close they might try to push up again, as lings as we stay below that zone new lows are likely to come
Agree its in the close when we will see whether its turned. Ive made my bets on the long side and will only add at 20.00 or lower for march contract. Holding 9 at avg of 21.81 now. Good lucj all.
ok here we are testing 21.20 / 21.30 in NY session, i doubt it will hold, but if above at the close, the picture becomes neutral. Bulls in control above 21.9, bears in control below 21.2
looks weak again as it stays below 21.20 / 21.30, lets see if NY will confirm weakeness or reverse. more weakness leads to a test of 20 and likely below. strength only above 21.90
Algos are working hard on this, +6% on Thursday, -6% on Friday without news. This should rise yet it came down almost 30% from the top, typical algos evil move. I think 17-18 and then 25 possible next year; 30 and over might be new high next year
Not lookimg good for a rally at the end of the day/year. Brutal
sleepy joe wanted to make clear commodities sell-off is yet to come (russian bankruptcy included) lol
Tomorrow we will know, important for bulls to stay above 21.4
Crazy bullish run just starting lol
did some short profiting to 19 cents
did some short profiting to 19 cents
Only daytraders moving just gambling.
New low as expected but prompt reaction lets see what new york brings
Today 21 drop
Cot report suggesting the drop might not be over, lets see price action today
People predicting a dump like this sugar price made bank, I wonder if cocoa will have the same path next year, considering how insanely overbought was this year
I think much depends on positioning, bus was too full at 28 for sugar but this doesn’t mean it has to be the same for cocoa at 4400
They start covering, tomorrow bounce likely, maybe after a red start, lets see
Bouncing as expected but not very convincing in terms of strenght, if closes below 21.20 / 21.30 a test of 20.13 or new lows below 19 could be seen next week. Strenght could lead to 22.60 to 23 as short term target. Early to say but down move might not be over yet
 In fact it may form double bottom around 20.00 or gap up at the open next session. Who knows?
I doubt it as this move was clearly an algo move, so the most likely scenario is that they will break 20 and even 19, turn the picture into a bearish one and rise…typical algo move. If they bouce back to 23 and above straight, well even better as i am long, but it would surprise me
i added on my longs at 20.17 we have probably seen the low for today but there is still chance for a final drop tomorrow below 19 then next week back to 23 - 24
below 20, hopefully not below 19...
Good call, Francesco. I added 1 long. Average is 21.93. March. Good Luck all.
WHAT GOES UP IT WILL COME DOWN, SUGAR PRICE WILL NOT MAKE THE HOLE IN TNE SKY,
it will go down till where u think
im still on buy from 22
Dont worry it will go up. I buy 21.10
ur tp where if u dont mind telling
There was fund liquidation first and then loss cut from the longs. Let's see.
Im surprised by the pulllback. Im not adding yet to my long position. Im now deeply red dammit.
OMG
Sugar forming double bottom targeting 23cents.
Agree 100%. All over it too.
In Maharashtra, the lower rainfall led to a 16% average drop in cane yield, with some regions experiencing declines of up to 40 percent, according to farmers.
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