March ICE sugar futures a buying opportunity on more price strength.
See on the daily bar chart for March sugar futures that prices have made a good rebound from the August low and have just hit a fresh three-week high. A bullish double-bottom reversal pattern could be forming on the daily bar chart. A move above solid chart resistance at the August high of 17.78 cents would provide the bulls with better upside technical momentum and it would also become a buying opportunity. The upside price objective would be 18.75 cents, or above. Technical support, for which to place a protective sell stop just below, is located at 17.40 cents.
