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dchua1969

A peek into the sugar's future

Panjang
Dolar A.S. / Real Brazil (FX_IDC:USDBRL)  
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FX_IDC:USDBRL   Dolar A.S. / Real Brazil
Trend Analysis Chart Patterns USDBRL sugar11
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trendanalysis chartpattern usdbrl sugar11
According to Investopedia, Brazil is top leading sugar producer globally. So , we take a look at its currency; USDBRL and discovered that since Jan 2020, it has appreciated against the USD for more than 50%. This trend should continue towards the rest of 2020 and likely the first half of 2021 too.

That being the backdrop, then we can assume sugar price to continue going higher, breaking the 15.78 price resistance soon. I am bullish on sugar !
Komen:
Sugar is reaching the resistance level, let's see if it will break up this or next week
Komen:
Tonight, I will add more sugar

Idea Berkaitan

dchua1969
Added more sugar at 14.36
Penafian

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