Loading ...Strange Friends (explained why + volume analysis)
They don’t quit have a timely correlation.. but both like to go ballistic once in a while… and not to far apart.
Why is that?
Yep.. Sugar is on a tear recently… good omen for silver?
Edit: Found this article what moves the price of sugar…
Extract from http://www.futuresknowledge.com/news-and-analysis/softs/the-top-factors-that-move-the-price-of-sugar/
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Pieces of the puzzle starting to make sense
Edit 2: now with volume analysis! looking great!
Edit 3: adding monthly chart… man something BIG is happening in the sugar market.. even on monthly chart!
Sugar as represented by the ETF, CANE, is Down 70% from its inception and high in 2011.
It looks no different than all the other bombed out commodities.
https://goldtadise.com/wp-content/uploads/2020/02/sc-6.png
In the 1990s I was told that soybean prices were highly correlated with silver and to look at their pricing as an indicator for silver. I saw an attempt to resurrect or allude to this concept a few years ago.
A glance at SOYB for the past year does not show any overt or obvious clinging of the soybean prices and silver prices.
Sugar is the new soy apparently.