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Sugar Prices Hit Contract Lows


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Sugar Futures---Sugar futures in the July contract settled last Friday in New York at 11.72 while currently trading at 11.67 basically unchanged for the trading week. I have been recommending 2 bearish positions with an average price of 12.06 and if you took those trades the stop loss has now been lowered to 12.15 as an exit strategy as the chart structure is outstanding at the present time.

Sugar prices are trading under their 20 and 100 day moving average, however for the bearish momentum to continue we have to break the May 8th contract low of 11.64 and then I think prices could accelerate to the downside, however crude oil continues its bullish momentum as that is helping support sugar prices at this time.

Volatility still remains relatively average as the fundamental and technical picture for sugar remains bearish as carryover levels have increased substantially as the country of Brazil continues to be the Garden of Eden so continue to play this to the downside as I still think there's more room to run.

The commodity markets in general still remain bearish as there is no trade agreement with China, however the agricultural markets have shown some life this week as weather can turn a bearish market into a bullish market very quickly.

TREND: ---LOWER

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

Skype Address: 5da1f85979b7117b

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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