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Sugar Prices Look Strong


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Sugar Futures---Sugar futures in the October contract is trading higher by 20 points in New York currently trading at 14.29 as I'm looking at a possible bullish position if prices break the 14.44 level which was hit on August 31st & if that does occur place the stop loss under the 10 day low of 13.63 risking around $900 per contract plus slippage and commission.

The chart structure in sugar is outstanding at the present time as prices have gone nowhere over the last 2 weeks coupled with the fact that the volatility is relatively low as I still think sugar looks interesting to the upside.

Prices are trading above their 20 day moving average but still below their 100 day which stands at 14.74 & if that is broken I think there will be buy stops that could propel prices above the August 1st high of 15.16 as a weak U.S dollar could push prices higher in the weeks ahead.

The U.S dollar is up over 40 points in today's trade ,but is having very little impact on sugar prices as unleaded gas is helping support prices as sugar is used as a biodiesel while historically speaking still looks very cheap in my opinion so play this to the upside while maintaining a risk management strategy of 2% of your account balance on any given trade.TREND: HIGHER---MIXED–CHART STRUCTURE: --EXCELLENT

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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