Wednesday, April 28, 2010

SUGAR

There's a possible Buy set-up in July Sugar seen on a 60M chart.  First, on a weekly chart you have the 78.60 retracement level ~ 14.70.  This can be a very powerful retracement zone.  To further support this area you have solid fib support seen on a 60M chart all the way down to a 5M chart. 
Buy Zone 1 ~ 14.60-14.80
Buy Zone 2 ~ 14.40-14.55
Buy Zone 3 ~ 14.00-14.20

One of these areas may produce a major bottom in Sugar.  Buy Zone 1 contains the 78.60% weekly retracement level so let's watch this zone closely.

No comments:

Post a Comment