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I Remain Bullish Sugar Prices


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Sugar Futures---Sugar futures in the March contract is lower by 1 tick at 13.37 in a very quiet Tuesday afternoon consolidating the recent price gains that we witnessed last week. Fundamentally speaking this market has turned bullish as sugar also has support from strength in crude oil prices that rose to a 2-1/2 month high last Friday and backed off just mildly on Monday.

Higher crude oil prices benefit ethanol prices and may prompt Brazil's sugar mills to divert more cane crushing toward ethanol production rather than sugar production thus curbing sugar supplies. I have been recommending 3 bullish trades with an average price around the 12.79 level and if you took that trade continue to place the stop loss under the 10-day low standing at 12.66, however in tomorrow's trade that will be raised to 12.72 as the chart structure is outstanding due to the low volatility that we are currently experiencing.

Prices are trading for above their 20 and 100 day moving average telling you that the trend is higher as trading with the path of least resistance is the most successful way to go over the course of time.

TREND: HIGHER

CHART STRUCTURE: EXCELLENT

VOLATILITY: LOW

If you are looking to contact Michael Seery (CTACOMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

TWITTER---@seeryfutures

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Email: mseery@seeryfutures.com

If youre looking to open a Trading Account click on this link www.admis.com

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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