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May 20, 2023
During an 8 day fall, dropping a total of 3.15%, ($1.03), Yesterday may indicate a change of direction; the ICE Sugar future improves 0.74% to close at $25.8 per pound yesterday.
Meanwhile, United States CFTC Crude Oil speculative net positions released yesterday at 20:30 UTC with a figure of 191,500, while the previous figure was 216,600. United States CFTC Gold speculative net positions released yesterday at 20:30 UTC with a figure of 179,800, while the previous figure was 195,800. Fresh CFTC Nasdaq 100 speculative net positions data from United States came out at 20,000.
Yesterday's price action generated a Japanese candlestick pattern showing 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end.
A look at other Softs also shows upside as notably, Cocoa rose 2.67% yesterday and closed at $2,991. Coffee added 2.17% and closed around $186.65 yesterday.
Having soared to a high of $26.64 approximately 10 days ago, Sugar is now trading 3.87% lower.
