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Sugar Prices Near 4 Week High

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Sugar Futures--- Sugar futures in the October contract settled last Friday in New York at 14.03 a pound while currently trading at 14.30 up about 27 points for the trading week right near a 4 week high.

At the present time I'm not involved in sugar, but it looks to me that a double bottom around the 13.00 level has occurred as sugar is used as an ethanol product as gasoline prices in the United States have skyrocketed due to the fact of Hurricane Harvey as I think that is starting to support sugar and corn prices here in the short term.

Sugar prices are trading above their 20 day but still below their 100 day moving average which stands at 14.82 as prices look to retest the August 1st high of 15.16 in my opinion in the coming weeks ahead.

The chart structure at the present time is solid as we could be entering into a bullish position possibly in next week's trade as the risk/reward is starting to become into your favor as volatility is still relatively low therefore the monetary risk will be relatively low so keep a close eye on this market & look to play this to the upside.TREND: HIGHER–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

Skype Address: mseery TWITTER---@seeryfutures



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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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