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Raw Sugar Bullish Triangle break out likely

Raw Sugar Bullish Triangle break out likely

Sugar #11 ICEUSA:SB1!

The Sugar futures has sown an impressive run up into the 20 Cents/Lbs mark especially when the dollar correction of the last few months has resulted in a strong appreciation of South American currencies , specifically the Brazil Real. The technical significance of Sugar has been, that its strongest among the Softs. This triangle in the making is a likely continuation of the last few months of rally owing to Global deficit of 2016/17 season. Unlike the other softs where the supply situation has no big concerns, the sugar rally may not respite soon.