Raw Sugar (SB) Weekly MACD Trying to Negatively Cross


Raw Sugar (SB) is trying to halt a 3 week plus slide from its 2022 high, but remains vulnerable to deepening in its consolidation and retesting the March low sometime in May.  Nevertheless, SB does not appear to be forming a Double Top-like pattern (on the weekly chart) as the April high was comfortably above the November high (on the July contract).  Any break above the descending wedge (on the 4hr chart) before the weekend will coincide with a break above the descending triangle resistance (on the daily chart), and a weekly close above the psychologically key 0.19 whole figure level.  The tiring weekly RSI, Stochastics and MACD are weighing on the bottomish daily RSI and Stochastics.  I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Thursday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).  Click here for analysis on COTTON, NASDAQ100

Source: Interactive Brokers TWS

Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)

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