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SGG (Sugar ETN) Bull Flag Formation

Watching for an impulsive breakout above this bull flag continuation pattern following the recent bullish falling wedge breakout on SGG (Sugar ETN).  Unofficial trade idea at this time although SGG is under consideration as an official trade idea. Price targets would be the same as the recent long swing trade that was stopped out just before SGG printed the bullish engulfing candlestick on June 29th.

SGG daily July 6th

SGG daily July 6th

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2018-01-21T22:00:17+00:00 Jul 6, 2017 11:08pm|Categories: Gold & Commodities, Unofficial Long Ideas|Tags: , |2 Comments

2 Comments

  1. oxienergie July 7, 2017 7:29 am at 7:29 am

    There are several changes to the sugar policy of the EU that become effective on October first.
    But I have no idea how big of an impact they will have as I don’t really understand them. Just wanted to point that out so that everyone thinking of taking this trade can read up on this.

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    • rsotc July 7, 2017 11:54 am at 11:54 am

      Thanks for pointing that out. I think that commodities in general are poised to outperform equities & bonds in the coming year or more. As such, I’ll continue to focus on the swing trading or any long-term trading/investing opportunities in the commodities arena.

      So far today, SGG appears to be breaking out above that bull flag pattern impulsively.

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