Commodity Blog

On the daily chart of the February sugar futures a pattern has formed. It’s a symmetrical triangle with its base near the end of September and its apex near the beginning of December. The pattern signals about the trend’s consolidation trend near the price level of 23.00. A pattern breakout is possible in any direction, with a following strong, but short-term, rally. A daily close significantly above or below the triangle’s borders may serve as a proof of breakout. Click the image to enlarge it to a full-size screenshot:

If you have any questions or comments regarding this chart pattern for the silver, please, feel free to reply below.