Trading the trend: short NY #11 sugar
As NY #11 sugar has come off its long-term downtrend line, we would like to go short with a stop loss at 22.65, and a downside target in the 17.00 region.
(AI Video Summary)
Previous gold and US dollar basket trading outcomes
In this episode of "Trading the trend", Axel Rudolph reviews ongoing trades, emphasising strategic patience and stop loss importance. The video begins with the review of gold - a long position entered on 5 June at $2,333.00 per troy ounce - highlighting the current break through a downtrend, with new targets at $2,400.00 and $2,440.00.
A short trade on the US dollar basket entered at $104.85 remains active, sustained above its stop loss at April's high of $106.2.
This week's trading opportunity
New York #11 sugar futures, having been shortly stopped out, are again considered for a short position, with trends suggesting potential downward movement. Rudolph suggests setting a downside target at 17.00 with a stop loss above 22.65.
IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.
Trade on commodities
Trade commodity futures, as well as 27 commodity markets with no fixed expiries.1
- Wide range of popular and niche metals, energies and softs
- Spreads from 0.3 pts on Spot Gold, 2 pts on Spot Silver and 2.8 pts on Oil
- View continuous charting, backdated for up to five years
1In the case of all DFBs, there is a fixed expiry at some point in the future.
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.
