Wednesday, 7 October 2015

Sugar #11 H16... The big picture

One of the most important considerations when trying to identify and reveal "organic" support and resistance areas is HISTORICAL DATA. If you do not posess it you can buy/download it as a .csv file.
Here is just two of the reasons I identified the $11.00 area as a potential turning point.
1. Historical lower median line parallel ( green)
2. Rising/up sloping reaction line from the same historical PF (ABC). This PF contains 3 of the most significant pivots in the last 25 years.
Here is a link from a July post with the same charts

Many opportunties abound. I am not a religious person but having been schooled in England in the 70's ( and this phrase used in a famous telegram from W.S.C to General Wavell in 1941) remember:  
Saint Matthew,Chapter 7,Verse7
"Ask, and it will be given to you, Seek and you will find it, Knock and the door shall be opened for you"

It is the same with chart interpretation.

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