Sugar Update

here’s the last post on Sugar:

as you can see below, the level held extremely nicely but after peaking in Mid-Oct, the bid was crushed.  IF this level is a significant low, then we shouldn’t go below 16 again.  either way, a potential label is shown.  the characteristics of wave 2 are that the general traders feel the bear trend is in fact (it could be) and it can retrace all of the first wave up ….so, that is why 16 is so crucial.  If we lose 16 then back to the drawing board …

the bearish interpretation is the area labeled 1 or A is actually the completion of the corrective move and we will lose 16.  not sure if that is the case because of the long term pattern that was hit back in July.

stay tuned …

Sugar Update

Sugar Update

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: