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This is a discussion on Sugar within the Softs forums, part of the Commodities category; I don't know what sugar's going to do, but it's going to do something. I think it will be worth ...

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Old Dec 22, 2004, 12:02pm   #1
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Sugar
I don't know what sugar's going to do, but it's going to do something. I think it will be worth watching after the holidays. I wouldn't expect a mega move, but there should be an easy little profit with a breakout in either direction. Looking at the charts, I think the downside is more likely, but it seems the fundamentals may be turning bullish. (Please don't press me for details on that last statement . I'm just now beginning to look at sugar.)
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Old Dec 23, 2004, 5:22pm   #2
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I am confused at least as you are.
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Old Dec 23, 2004, 6:23pm   #3
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Just a few of my thoughts.

The up trend started in the beginning of this year from 5.4 onwards.
The uptrend is still ongoing.

Any decline below 8.00 means for me the uptrend is finished. Major support @8.20 area.

I think we will see another go at the 9.00 resistance level in the short term, the trend is still bullish.
I think the contract will go for 9,40 initially with the following target of 9.70.
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Old Dec 23, 2004, 7:12pm   #4
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gene started this thread I think if it goes past the 9.40 to 9.70 area, then it will go to about 14.00.
(I always look at the charts to guess at that stuff, and then I turn to the fundamentals for confirmation. I haven't started reading up on sugar, yet.)
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Old Dec 25, 2004, 7:17pm   #5
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however if doesn't go up ... surely it will go down .. or visa v?
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Old Dec 26, 2004, 1:39am   #6
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gene started this thread "however if doesn't go up ... surely it will go down .. or visa v?"
Uhmm......Maybe.


Look at the charts above. Sugar has been stuck in a pretty tight range. Markets don't stay stuck in tight ranges forever. Look at the monthly chart. After a breakout, 14.00 looks like a reasonable upside objective, and a little above 5.00 looks like a reasonable downside objective. I don't give a fat flyin' rat's whisker which way it breaks out of the current range, but when it does break out, I'm thinking it will move quickly enough as to be a good market to trade. I'll be watching.
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Old Dec 26, 2004, 9:40pm   #7
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but it could break and continue or break out and reverse, or visa v!!!
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Old Dec 26, 2004, 11:00pm   #8
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gene started this thread (Having fun? )
False breakouts are always a risk in any market. That's why I like for the fundamentals and price movement to agree before I enter a position.
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