Panjang
Sugar white - Buyers strike again !
Actually I rare to trade commodities like sugar. But when doing my weekly analysis, I found the interesting setup for me and wanna share this to you. After all, it is interesting to try to trade another instruments. Remember, technical analysis can be done to all financial instruments in the market. So, let us start...
If we see the newest price action in this H4 chart, obviously bearish trend. But, last week, some interesting things happen. Instead of dropping price more, after broke the support 465.69-463.67, prices went up again and back maintain above this support. Well, seems buyers does not want price drop any further. So, this give me a clue that price potentially going up in near future to 472.6-474.6.
So, with this fact alone, bearish trend in this H4 dissipating and become neutral.
If we see the newest price action in this H4 chart, obviously bearish trend. But, last week, some interesting things happen. Instead of dropping price more, after broke the support 465.69-463.67, prices went up again and back maintain above this support. Well, seems buyers does not want price drop any further. So, this give me a clue that price potentially going up in near future to 472.6-474.6.
So, with this fact alone, bearish trend in this H4 dissipating and become neutral.
Penafian
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