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Barchart
Barchart
Jim Wyckoff

Sugar Prices Are Supported by Global Inflation Worries and Droughts. Where to Buy.

Inflation

July sugar (SBN26) futures present a buying opportunity on more price strength.

See on the daily bar chart for July sugar futures that prices are trending higher and on Monday hit a four-week high. See, too, at the bottom of the chart that the moving average convergence divergence (MACD) indicator is also in a bullish posture as the blue MACD line is above the red trigger line and both lines are trending up. The bulls have the near-term technical advantage.

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