The sugar ETF SGG had a fantastic reversal yesterday. The daily candle formed a bottoming tail. A bottoming tail is a reversal signal that shows potential upside in the coming weeks. Considering how oversold sugar is, this is likely a bottom. Today, sugar is trading lower but it is important to recognize that the bottoming tail low from yesterday has not been taken out. Therefore, technical analysis states that the bottoming signal is still fully intact.
Gareth Soloway
InTheMoneyStocks