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Sugar Prices Look To Join Gasoline Higher

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Sugar Futures--- Sugar futures in the March contract are up 16 points currently trading at 14.72 a pound testing the upper end of the recent trading range as I've been recommending a bullish position around the 14.57 level and if you took the trade continue to place the stop loss at 14.00 as the chart structure is excellent at the present time.

Prices need to break the November 1st high of 14.84 to continue its bullish momentum as I will be looking at recommending to add another position as the chart structure will also improve lowering the monetary risk later this week as I still think sugar prices are cheap especially compared to unleaded gasoline futures which continue to hit contract highs on a daily basis.

Sugar is used as a bio diesel and if gasoline prices continue to climb higher sugar will start to ride the coattails in my opinion coupled with the fact that corn prices are incredibly cheap & will also start to follow this sector to the upside once harvest is complete so continue to play this to the upside & take advantage of any price retracement as the risk/reward are in your favor in my opinion.

Sugar prices are trading above their 20 and 100 day moving average as the short-term trend is higher as we have held major support on multiple occasions. TREND: HIGHER CHART STRUCTURE: EXCELLENT VOLATILITY: LOW

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 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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