Sugar Short. Sugar traded on the futures exchange in New York has reached local highs as part of its current growth trend. The market rose on the resistance line of the growth trend, and continues to move to the values from February this year, which were also the maximum prices of the last two years. The fundamental situation regarding ethanol refining does not change, but market saturation has its limits. Technically based analysis for sale is an anti-trend analysis and has its risks. When breaking the highs, it is advisable to either realize a loss or join the side of strong position bears, which are waiting for a sharp decline. CA analysts are considered long-term players.
Graph and table source: WebTrader