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Sugar Rally – How Sweet?

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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday August 12, 2016

Hello Traders,

Greetings!

How Sweet Will The Sugar Rally Be? Ilan Levy-Mayer |

The sugar market has made a significant upside move over the past few days and weeks.

Weather concerns for part of the growing areas in Asia, as well as strength in Brazilian real contributed to this rally.

From a technical point of view, I feel this market is overbought and over-extended, but when fundamentals take over, you can use the charts for wall decoration…That being said, I will be looking for signs of exhaustion on the daily and weekly charts.

The chart below is a monthly chart of sugar, and you will see that we are trading right against recent highs and I got a sell signal in the shape of my red diamond. However, I don’t have a crystal ball, hence I will look on the daily chart for a similar clue before trying to go against the trend and go short.

Read the full article along with my chart set up at:
https://www.equities.com/news/how-sweet-will-the-sugar-rally-be

GOOD TRADING

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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Futures Trading Levels

Levels for Trade Date of  8.12.2016

Contract Sept. 2016 SP500 Nasdaq100 Dow Jones Mini Russell Dollar Index
Resistance 3 2203.42 4851.67 18792 1241.60 96.44
Resistance 2 2194.33 4831.33 18693 1235.80 96.16
Resistance 1 2188.17 4816.42 18631 1231.30 96.02
Pivot 2179.08 4796.08 18532 1225.50 95.74
Support 1 2172.92 4781.17 18470 1221.00 95.59
Support 2 2163.83 4760.83 18371 1215.20 95.31
Support 3 2157.67 4745.92 18309 1210.70 95.17
Contract Dec. Gold Sept. Silver Sept. Crude Oil Sept. Bonds Sept.   Euro
Resistance 3 1372.3 20.67 47.21 175 1/32 1.1249
Resistance 2 1365.9 20.50 45.53 174 8/32 1.1229
Resistance 1 1354.3 20.23 44.45 173 4/32 1.1192
Pivot 1347.9 20.07 42.77 172 11/32 1.1172
Support 1 1336.3 19.80 41.69 171 7/32 1.1135
Support 2 1329.9 19.63 40.01 170 14/32 1.1115
Support 3 1318.3 19.36 38.93 169 10/32 1.1078
Contract Dec. Corn Sept. Wheat Nov. Beans Dec. SoyMeal Sept. Nat Gas
Resistance 3 336.1 432.4 996.67 338.10 2.66
Resistance 2 334.9 428.1 993.33 336.10 2.63
Resistance 1 333.3 422.2 988.67 333.00 2.59
Pivot 332.2 417.8 985.33 331.00 2.56
Support 1 330.6 411.9 980.7 327.9 2.5
Support 2 329.4 407.6 977.33 325.90 2.48
Support 3 327.8 401.7 972.67 322.80 2.44

source:http://www.forexfactory.com/calendar.php

All times are Eastern time Zone (EST)

3:33pm Currency Impact Detail Actual Forecast Previous Graph
FriAug 12  2:00am EUR
German Prelim GDP q/q
0.3% 0.7%
EUR
German Final CPI m/m
0.3% 0.3%
EUR
German WPI m/m
0.3% 0.6%
2:45am EUR
French Prelim Non-Farm Payrolls q/q
0.2% 0.3%
4:00am EUR
Italian Prelim GDP q/q
0.2% 0.3%
5:00am EUR
Flash GDP q/q
0.3% 0.3%
EUR
Industrial Production m/m
0.6% -1.2%
8:30am USD
Core Retail Sales m/m
0.2% 0.7%
USD
PPI m/m
0.1% 0.5%
USD
Retail Sales m/m
0.4% 0.6%
USD
Core PPI m/m
0.2% 0.4%
10:00am USD
Prelim UoM Consumer Sentiment
91.5 90.0
USD
Business Inventories m/m
0.1% 0.2%
USD
Prelim UoM Inflation Expectations
2.7%

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This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts here in contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgement in trading.

Tags: > Posted in: Commodity Trading   | Future Trading News   | Futures Trading  

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