Support and Resistance Trading Forum

March Sugar
Date: 10/26/2010, 1:58 am

I missed this one in my update - and maybe for good reason because it's countertrend (again). I got burned the last time I tried to sell Sugar, but I can't help but read "SELL" off the recent chart. The resistance continues to hold off the highs and momentum is dropping. The only thing against us is a very strong uptrend, so that could make for a rather anemic move to the downside. Of course I have seen the bottom fall out of market top like this too. Personally I would say we're long overdue for a move back to 2550 (March).

We'll know soon enough.


Responses To This Message

Re: March Sugar
Erich -- 10/27/2010, 12:10 am