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Top Market Movers

January 6, 2020

 

 

Keys to the market

 

Sugar always winds up on my radar as a top market mover because it fits the four criteria when it comes to futures trading.

  1. Technically trends well

  2. Follows basic supply/demand fundamentals

  3. Pushed or pulled by easily tracked outside market forces

  4. Influenced by a couple currencies (U.S. Dollar/Brazillain real)

 

Analysis and Forecasting

 

One of the best performing commodities on the third day of the year posting a 3% gain, sugar continues to attract speculators and money managers. We will continue to monitor the Brazillian real as it breaks down targeting a 50% retracement and the bullish supply/demand fundamentals for the 2020 Indian crop. Remember we are initially expecting a decline of just over 6 million tons, this number could expand quickly. Looking back at commitments of traders analysis we finally saw a flip from net short to net long out of managed money. Also monitor crude oil prices as the rush to own ethanol was the catalyst for the rally due to the tensions in the middle east.

 

Learn strategies to trade options and futures like the pros with more than 40 hours of educational videos and Q&A sessions.

 

Blue Line Futures Trading Education

 

If you're viewing this in Barchart please copy & paste the link below into your web browser

 

www.bluelinefutures.com/ps-trading-education

 

Key Chart Analysis

 

Brazillian real

 

Sugar

 

 

Learn strategies to trade options and futures like the pros with more than 40 hours of educational videos and Q&A sessions.

 

Blue Line Futures Trading Education

 

If you're viewing this in Barchart please copy & paste the link below into your web browser

 

www.bluelinefutures.com/ps-trading-education

 

 

Price Analysis and Outlook

 

The daily sugar chart shows that volume has surged to the highest level this year and challenging the highest level in months. We have also seen a breakout to the upside through the top end of the bull flag. Critical support is found at 13.10 and a close below level could end with a washout. If your bullish you want to see an open and follow through to the upside pressing 14.00 while any penetration below 13.67 would most likely send the market back into consolidation levels.

 

For a customized strategy please email me at Phil@Bluelinefutures.com where we can further discuss options and future strategies.

 

By Phillip Streible

 

312-858-7303

 

Phil@Bluelinefutures.com

 

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results

 

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