Something’s Brewing In Sugar

A couple of months ago, I sold my holdings in sugar expecting some type of pullback.  The fundamentals remained strong and still do but the charts said to exit, at least temporarily.  However, I’ve kept my eyes on sugar (through the ETF SGG) to look for a new entry point.  That time may be coming soon.

Source:  stockcharts.comWhen looking at the chart above, basically sugar has been moving sideways after having a huge run up in the summer.  Even though we continue to make higher lows, we’re also making lower highs.  Therefore, we’re just about to get to a point where sugar will either break down or start a new leg up.  With the fundamentals intact and the dollar continuing to weaken, new highs may be in the cards soon.  Keep an eye on this one.

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