October ICE sugar futures a selling opportunity on more price weakness.
See on the daily bar chart for October sugar futures that prices are in a steep downtrend and last week hit a five-month low. The bears are in firm near-term technical control. A move in prices below solid chart support at last week’s low of 16.87 cents would become a selling opportunity. The downside price objective would be 15.90 cents or below. Technical resistance, for which to place a protective buy stop just above, is located at 17.35 cents.
