Just a reminder, these charts are posted as examples of the trades on the nightly COT Signals email. These trades will help illustrate the mechanics that go into creating the nightly email.
Commercial trader momentum has become increasingly negative on sugar’s rally since the beginning of April. Yesterday, the market gave us a classic one bar reversal. The market made new highs for the move yet closed below the previous day’s lows.
Keeping in mind that sugar’s seasonal strength runs through the end of July, we will place a protective stop above yesterday’s high at 16.68. Perhaps, this years seasonal turns negative a bit ahead of schedule.
Please call Andy Waldock with any questions.
866-990-0777
