TradingView
0
All posts from TradingView
TradingView in TradingView,

Sugar - The bitter one. Correction should happen from oversold

Sugar - The bitter one. Correction should happen from oversold

Sugar #11 ICEUSA:SBK2015

First of all I have to admit, the counter long Sugar idea was my worst call this year. However I am thinking about the possibility of correction again. Weekly: - Bearish trend, bearish ichimoku setup. - Watch Heikin Ashi candle this week. If there won't be a lower low, the candle may have a small inside body, or can turn into a long wicked doji as well. haDelta/SMA3 cross gave early signal of a possible correction or pause in trend. Daily: - Sharp price drop after the Kumo retest, however Price seems a bit oversold short term. - Watch Heikin Ashi candle change today! haDelta/SMA3 has a bullish divergence, and already a positive cross. The question is if the indicators can climb back above zero line? If Price breaks above Tenkan Sen, that will be a short term buy signal too. - In case the correction finally starts, the pull back tgt can be 14,00 +/- area.