March Sugar Futures a Selling Opportunity on More Price Weakness
See on the daily bar chart for March sugar futures that prices have sold off recently, a downtrend is in place and prices have just hit a contract low. Bears have solid downside technical momentum to suggest more downside price pressure coming. A move below chart support at Wednesday’s contract low of 14.62 cents would become a selling opportunity. The downside price objective would be 13.25 cents, or below. Technical resistance, for which to place a protective buy stop just above, is located at 15.25 cents.
