{"id":4664,"date":"2023-12-28T08:08:20","date_gmt":"2023-12-28T01:08:20","guid":{"rendered":"https:\/\/lasuco.vn\/?p=4664"},"modified":"2023-12-28T08:09:32","modified_gmt":"2023-12-28T01:09:32","slug":"price-of-sugar-tripled-since-2020-can-it-keep-rising","status":"publish","type":"post","link":"https:\/\/lasuco.vn\/en\/price-of-sugar-tripled-since-2020-can-it-keep-rising\/","title":{"rendered":"PRICE OF SUGAR TRIPLED SINCE 2020. CAN IT KEEP RISING?<\/strong>"},"content":{"rendered":"\n

The prices of most food commodities have dropped significantly from the highs seen during the shortages of 2022. Wheat is down 60%, coffee has fallen by 30% and soybeans are trading 25% lower. But there\u2019s one commodity, whose price just kept rising and now hovers near levels last seen more than a decade ago. We\u2019re talking about sugar.<\/p>\n\n\n\n

The price of sugar barely held above $9\/lbs during the COVID-19 panic in the spring of 2020. Earlier this month, however, it briefly exceeded the $28 mark. In other words, sugar has more than tripled in price in less than four years. Coupled with the near-doubling in the price of cocoa over the past 12 months, this explains why your favorite chocolate has gotten more expensive.<\/p>\n\n\n\n

But let\u2019s get back to sugar. After seeing the price of anything tripling over such a relatively short period of time, traders are often tempted to extrapolate the uptrend into the future. This is a risky strategy under any circumstance. Here, we think it is simply wrong. The Elliott Wave chart below explains.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The weekly chart of sugar reveals that a five-wave impulse has emerged from the 2020 low at $9.18. The pattern is labeled 1-2-3-4-5 and, according to the theory, means that we should expect a three-wave correction. If this count is correct, we can expect a notable retracement back to the support near $20 in wave (2\/b), before the uptrend can resume. In addition to the mid-term negative Elliott Wave setup, there is also a bearish RSI divergence between waves 3 and 5, which highlights the bulls\u2019 exhaustion.<\/p>\n\n\n\n

Original Post<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The prices of most food commodities have dropped significantly from the highs seen during the shortages of 2022. Wheat is down 60%, coffee has fallen by 30% and soybeans are trading 25% lower. But there\u2019s one commodity, whose price just kept rising and now hovers near levels last seen more than a decade ago. We\u2019re […]<\/p>\n","protected":false},"author":17,"featured_media":4667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-4664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nPRICE OF SUGAR TRIPLED SINCE 2020. 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