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SUGAR Technical Analysis - SUGAR Trading: 2023-03-06
Sugar Technical Analysis Summary
Above 20,95
Buy Stop
Below 19,15
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
Sugar Chart Analysis
Sugar Technical Analysis
On the daily timeframe, SUGAR: D1 went up from the triangle and the long-term downward channel. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if SUGAR: D1 rises above the latest high (since January 2017): 20.95. This level can be used as an entry point. Initial risk cap is possible below the Parabolic signal, the last down fractal, the 200-day moving average and the lower Bollinger band: 19.15. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (19.15) without activating the order (20.95), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Commodities - Sugar
Global demand for sugar may increase faster than its production. Will SUGAR quotes continue to rise?
The International Sugar Organization (ISO) expects a 4.8% YoY increase in global sugar production in the 2022/2023 agricultural season to a record high of 180.4 million tons. At the same time, ISO reduced the forecast for a global sugar surplus to 4.15 million tons from 6.19 million tons in its review in November. Theoretically, this could be caused by a more active increase in consumption. Note that in the 2021/2022 season, ISO expects a global sugar deficit of 2.25 million tons. Earlier, the Indian Sugar Mills Association reduced its forecast for sugar production in India in the 2022/2023 season and the European Association of Sugar Manufacturers in the EU.
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