October Sugar Futures a “Swing Trade” Selling Opportunity on Fresh Price Weakness
See on the daily bar chart for October ICE sugar futures that prices have pushed up against some very strong overhead resistance that has turned back advances in recent months. This is a “swing trading” opportunity. (Email me at jim@jimwyckoff.com) if you’d like to learn more about swing trading.) A move below support at this week’s low of 18.47 cents would become a selling opportunity. The downside price objective would be 17.40 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 18.91 cents.
