What a rally we had in Sugar! However Price reached an extremely strong resistance. Also all other soft and agri products started to decline. It's better to get out of longs now, and maybe even try a small counter short!
Weekl:
- Ichimoku setup neutral due to 4-5 weeks of massive rally.
- Trend is still bearish, Price seems to top at bearish trendline. No higher high for 3 weeks!
- Heikin Ashi early warning signal! haDelta/SMA3 crosses down after reching an extreme high level. Candle bodies started to shrink. In next few weeks we'll possibly experience a pull back.
- Supports are at 13,05 and 12,35+
Daily:
- Ichimoku setup is bullish, but price got too far above Kijun Sen too quickly. A pull back to or sub 13,00 is possible.
- Heikin Ashi warning signal! Consolidation started but it can easily extend to a pull back as haDelta/SMA3 has massive negative divergence compared to price and smoothed haDelta is also about making a cross below zero line!
It is time to get out of all longs!
- Volume also started to drop!
I opened small short at 14,20.
Weekl:
- Ichimoku setup neutral due to 4-5 weeks of massive rally.
- Trend is still bearish, Price seems to top at bearish trendline. No higher high for 3 weeks!
- Heikin Ashi early warning signal! haDelta/SMA3 crosses down after reching an extreme high level. Candle bodies started to shrink. In next few weeks we'll possibly experience a pull back.
- Supports are at 13,05 and 12,35+
Daily:
- Ichimoku setup is bullish, but price got too far above Kijun Sen too quickly. A pull back to or sub 13,00 is possible.
- Heikin Ashi warning signal! Consolidation started but it can easily extend to a pull back as haDelta/SMA3 has massive negative divergence compared to price and smoothed haDelta is also about making a cross below zero line!
It is time to get out of all longs!
- Volume also started to drop!
I opened small short at 14,20.
