Trade of the week: long NY sugar

(Partial video transcript)

This week's trading opportunity

Axel Rudolph: Good morning and welcome to "Trade of the week" on Monday 2nd June, 2025. Let's begin with today's trade, which is to go long New York sugar. So, let's have a look at the daily chart, and the reason I want to go long is twofold. If you go on this daily chart, you can see we've just broken through this accelerated downtrend line, or resistance line.

And we've done so from a low from last week, which is marginally below the early May lows, but also above this January 2025 low. And if I then zoom out, what you can see is that all of these lows around the 1750 area on the Daily Financial Bet (DFB), go back to, basically, 2022 and you can see all these lows we’ve, sort of, bounced back from. For that reason, I believe we have another opportunity perhaps to see a recovery in the sugar price taking place over the next few days and weeks.

I would like to go long New York Sugar, with a stop-loss below the January low.

Previous weeks' trading outcomes

But, I also was asked to talk about the previous week’s Trade of the week. We went long the Nasdaq 100. We had an upside target around 22,000. I don't think I can count it. We went up to 21,800, but yes, you could have made about 600 points profit on that trade. If you haven't cashed it in, with what's going on today, maybe cash it in now. It makes a small profit here of about 28 points or so if you got long perhaps, or just get out. But, that one for me is done.

And then the week before we went long Cable - GBP/USD. You can see we went long on the break of this downtrend line, this resistance line, which looks similar to the one we've just looked at on the New York Sugar price. So, here we've been long. We had a stop-loss at our entry level at $1.3360. Now we can raise that stop-loss to a take-profit stop to just below Thursday's low which was $1.3415 and thereby, if we were to get stopped out, we would have a small profit in play. 

And you can see we are heading higher, and my upside target is still the same as before. If I zoom out, it's going back towards the $1.3850/$1.39 area, just below the psychological $1.40 area here, because we've had a lot of resistance up there. But for me, the uptrend in Cable still very much intact. 

So, going back to New York Sugar - today's "Trade of the week" - what I would like to do is to go long New York Sugar at around current levels, with a stop-loss below the January low, which on the Daily Financial Bet was made at 1683. With an upside target probably around a first upside target around 1815, but perhaps it could go as far as the 2000 zone over the coming weeks and months.