October ICE Sugar Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for October ICE sugar futures that prices are in a steep downtrend and this week hit a contract low. The bears are in solid near-term technical command to suggest still more downside price pressure to come. A move below chart support at this week’s low of 15.30 cents would become a selling opportunity. The downside price objective would be 14.00 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 16.00 cents.
