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I Am Bullish Sugar Prices
Monday, October 30, 2017

Sugar Futures---Sugar futures in the March contract is trading higher for the 2nd consecutive session as I have been recommending a bullish position from last Friday from around the 14.57 level & if you took the trade place the stop loss under the 10 day low standing at 13.84 as the risk is around $800 per contract plus slippage and commission as the chart structure is excellent at the present time.

Sugar prices are trading above their 20 and 100 day moving average as the trend is to the upside as we have broken out of a 5 week consolidation as the 14.00 level held on multiple occasions as sugar is starting to follow crude oil which is also hitting another high in today's trade.

The next major level of resistance is the September 15th high of 15.20 & if that is broken I think there is room to the upside near the 17 level so continue to play this higher and if you're not involved wait for some type of price retracement before entering as I think prices have bottomed out.TREND: HIGHERCHART STRUCTURE: EXCELLENT

If you are looking to contact Michael Seery (CTACOMMODITY 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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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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