March ICE sugar futures a selling opportunity on more price weakness.
See on the daily bar chart for March ICE sugar futures that prices are in a steep downtrend and have just hit a five-week low. The bears have downside near-term technical momentum. A move below chart support at Thursday’s low of 17.93 cents would 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 18.45 cents.
