Sugar price is going lower

[Investor123]

Sugar is one of the alternative source of energy.

Falling oil price simply means that demand for alternative energy like sugar will be lowered. Rising US dollar is going to push down commodities prices including sugar.

According to CFTC data last week, hedge funds had decreased their long position in sugar futures. Net long positions fell by 5147 contracts, or 4% from a week earlier.

Shorted Sugar Oct 08 at 13.92
Stop level at 14.50
Target at 13.00
Value of 1 point is US$1,120

 

[Investor123]

Parabolic had signal sell on the daily chart

 

[Investor123]

30min chart shows that sugar price is trending lower

 

[dotocom]

are you looking for short term gains through volatility here?

 

[BentRod]

I think he's just looking for traffic mate.

It's a copy a paste sesh.

 

[noco]

30min chart shows that sugar price is trending lower

According to CSR this week sugar prices are expected to rise to $420 per tonne by 2011, an increase of some 33% increase.
This will be due to Brazil concentrating their efforts on the production of Ethanol, hence the demand for sugar will increase.

 

[Investor123]

are you looking for short term gains through volatility here?

No, my target is 13.00, not really short term gains.

 

[Investor123]

Falling oil price has pulled sugar price lower. Sugar price had fallen to 13.61,unrealised profit is US$347.20.

 

[Investor123]

Early in the week I had shorted Sugar Nov 08 at 13.92, stop level at 14.50, target at 13.00.

Oil had been pressured by strong US dollar, causing sugar price to fall further. Sugar price had fallen to 12.81, so my target level at 13.00 is reached. Realised profit is US$1030.40.

 

[CanOz]

We can all make hindsight calls and claim profits on trades. No one does it though because it casts doubt on the crediility of the poster.

Post a few calls before the result, and you'll have more credibility with the members here.

I particularly like to see trades on commodities, so i'll watch with interest.

Cheers,


CanOz

 

[Investor123]

We can all make hindsight calls and claim profits on trades. No one does it though because it casts doubt on the crediility of the poster.

Post a few calls before the result, and you'll have more credibility with the members here.

I particularly like to see trades on commodities, so i'll watch with interest.

Cheers,


CanOz

Yes, I totally agree with you: Post your calls before the result.
I had posted my call on Oil / Gold spread trade in this forum as well, do watch it!