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What Happened To The Sugar Market ?


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Sugar Futures--- Sugar futures in the October contract have now traded lower for the 9th consecutive trading session as I was recommending a bullish position with the combined average price of around 14.25 getting stopped out earlier in the week around the 13.72 level as this market has completely fallen out of bed & is now currently trading at 13.20 after settling last Friday in New York at 14.14 as that is why you must have an exit strategy because clearly this trend has turned to the downside.

At the present time I'm not involved in sugar, but it looks to me that prices might retest the contract low which was hit on June 28th at 12.74 as the soft commodities drifted lower this week except for the coffee market despite the fact that the U.S dollar is at a 14 month low.

Sugar prices are now trading under their 20 & 100 day moving average telling you that the short-term trend is lower , however I will not take a short position as I do think the downside is limited as I still have a bullish bias across the board in the commodity sectors so I will keep a close eye on this market as the chart structure still remains very solid at the present time therefore volatility remains low.TREND: LOWER–CHART STRUCTURE: SOLID

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-312-224-8140 I will be more than happy to help you with your trading or visit www.seeryfutures.com

Skype Address: mseery TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

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There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.



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About the author


Michael is the sole owner of SEERYFUTURES.COM which is a commodity futures and options consulting, advisory, and educational firm.

Michael frequently appears on multiple business networks including Bloomberg News, Fox Business, CNBC Worldwide, CNN Business, and Bloomberg TV. He also writes market commentary for several commodity websites and is interviewed for commodity comments by the Wall Street Journal. He is also a guest on First Business, which is a national and internationally syndicated business show.
 
Michael started his career in 1990 at the Chicago Board of Trade as a runner. He soon worked his way up to becoming a Series 3 broker. He works with seasoned traders as well as novice beginners educating them on trading the futures markets as well as using simple and complex option strategies. Michael covers all markets including grains, metals, energies, and all other futures markets that are traded.
 
To Michael the biggest lesson any trader needs to learn is risk management. Michael believes this is the most important factor in trading. He also works with traders to help them determine the proper risk for their trading style. Michael has spent a lot of time educating his clients to help them understand trading strategies and trading techniques while enjoying spending quality time with customers going over the markets or just talking general trading philosophies.

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