Monday, July 9, 2012

Chocolate fans go long in sugar

On 5 July we opened a long position in sugar (Bloomberg ticker: SB1 Comdty, traded in New York) as we discovered a seasonality in the commodity. It seems that producers start to buy the base material for their products (candies, chocolates, biscuits) in summer already. We opened the long position at USD 22.46 and our first price target is USD 23.53. The 200-days moving average is here and on the mid-run the price didn’t manage to overcome this resistance level.

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