Technical forecast for Sugar

Sugar #11 hovering between 16.65 & August lows at 16.26 for about 2 weeks now. The general rule is to trade the range and wait for a breakout. A break lower sees 16.22 but below here we could target 16.09.

Immediate resistance at 16.50/54 could hold the topside but above here look for another test of 16.65/67 for a selling opportunity. We need stops on shorts above 16.70 however as a break higher should target 16.77 for an excellent selling opportunity.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. has established itself as the leading provider of... More