Sugar Outlook
Sunday, June 1st, 2008Looking at the 6 month daily chart, SBN8 has been on a downhill pattern since it peaked at $15.18 on 4 March 2008. It is trading near the 1 year low of $9.56. Yesterday it traded at a low of $9.82 before recovering to close at $10.02. The 20EMA crossed over the 200MA on 21/5/2008 and I expect the 81EMA to cross the 200MA line sometime next week. The MACD is indicating that it will go higher sometime next week. Will keep an eye on this one.
