October Sugar fell sharply the last five weeks, but found support near the June lows and surged on Tuesday. The indicator window shows StochRSI moving below .20 it late July and remaining below .50 as the downtrend extended into late August. The surge above .80 shows an upside momentum thrust.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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