Sugar is also showing some impressive strength and seems extremely over priced.
Thanks Jim, great point!
https://tradingeconomics.com/commodity/sugar
1 month below-straight up the last2+ weeks. Something happened to trigger the sharp low at the end of October.
1 year below-the Oct. low was at major support, now we approach major resistance in an extremely short period of time
10 year below-definitely a flag/pennant/wedge formation. ...IN 2022, when looking at a wider time frame. Which way will the price break?
50 year below-Interesting with lower highs and higher lows going back to the 1980s. Like a giant wedge/pennant over decades.
I read the article that you sent the link too. Interesting. I hadn't heard of India's export restrictions. But apparently that isn't a "huge" issue with the coming sugar production coming online. At least from what I can tell.