Sugar futures

[SoCalOptionsWriter]

Looking at the strong trend upward here and a recent 11 1/2 year high, anyone care to guess at what point or when a drawdown or new trend down will commence?

 

[Sekiyo]

Currently trend is up …
35 is about ATH
Let’s see.

 

[Overnight]

Currently trend is up …
35 is about ATH
Let’s see.

View attachment 314153

The COT report on the bottom is compelling. Back in late 2016 when the commercials and large traders were in the same position it fell 50% over the next two years. If I was forced to take a direction it would be short.

 

[SoCalOptionsWriter]

Interesting. Might stick my toe in. Thanks.

 

[maxinger]

The uptrend started in 2020.

It breaks the 7 year high but that is not a significant event.

Soon it will be on a downtrend.
It will probably happen a few months/years later.

 

[Handle123]

I been selling it short/hedged. Took partial profit on April highs, don't know if they will hold.

 

[CannonTrading_Ilan]

Monthly chart withy possible targets:

 

[countryBoy641]

44 years looks like this.
Still working off overbought at $14, going higher, eventually much higher.

 

[maxinger]

Sugar is only needed to make beer.

 

[Frederick Foresight]

The COT report on the bottom is compelling. Back in late 2016 when the commercials and large traders were in the same position it fell 50% over the next two years. If I was forced to take a direction it would be short.

So, based only on that information, you would go short now (if forced), in the face of an obvious uptrend?