The October 2007 Sugar contract has been in a long downtrend since July of 2006. I'm looking to short the October contract based on the breakout of the channel that prices have been in since the last of April. I'm needing prices to close below 8.82 which is the bottom of the channel. Prices have moved below 8.82 in the past three trading days, but still have not closed below 8.82. Hence, I don't have a signal to enter the trade. I'm looking for an initial downside target of 8.00, which would yield a profit of 906.00.
For information on other prospective commodity trades that I'm looking at, please go to
www.mylearn2trade.com.
No comments:
Post a Comment