Trade of the week: long sugar
We would like to enter a long position on US #11 sugar with a stop loss below the May and August lows at 17.70 and an upside target at 21.00.
(AI video summary)
Previous Arabica coffee & soybean trading outcomes
In this week’s edition of Trade of the week, Axel Rudolph revisits some recent trades and analyses their outcomes while introducing a new opportunity in the commodities market. In late August, shorting Arabica coffee yielded a 9% profit, though not everyone hit the target. Last week, short positions on soybeans were maintained, following the downtrend. The position has stayed stable around the 1,020 level with minimal volatility. The stop loss is set at 1,150, securing the strategy against resistance levels.
This week's trading opportunity
This week, focus shifts to going long on US #11 sugar futures, with a target price of 21.00 and a stop at 17.70. After a potential bottom in August and a subsequent rally, the market seems set for further gains.
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