March ICE sugar futures a selling opportunity on more price weakness.
See on the daily bar chart for March sugar futures that prices are in a steep downtrend. The bears are in firm near-term technical control. A move below chart support at this week’s low of 17.60 cents would provide the bears with some fresh downside momentum and it would also become a selling opportunity. The downside price objective would be 16.80 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 18.00 cents.
