Feb. 4 at 6:47 AM
$SUGAR.X_F 📈 Sugar #11 (SBH26) bounces back to 14.63 (+2.59%)! The bears are feeling the heat as U.S. Dollar weakness triggers a massive wave of short-covering.
The Setup: We are testing the 14.70 resistance. A break here opens the door to 15.00. 🚀
Macro Catalyst: Brazil mills are shifting focus back to ethanol parity as oil prices stabilize.
Sentiment: 🟢 Bullish in the short term as the "Dollar discount" attracts global buyers.
Is the bottom finally in, or is this just a "dead cat bounce"?
$CANE $DBA #Sugar #Commodities #Trading #Futures