Sugar Not So Sweet – Yet
In my previous post I said that Sugar was setting up a trade to go short. As long as Sugar closed below 22.52 and then stayed below 23.42 it would look like it was headed down. Over the past few days this trade did not get activated and, in fact, Sugar’s action is indicating that the correction from the September 4th low is not yet over. At this point it appears the correction is targeting the 24.60 – 25.00 area. If this level provides resistance, my belief that Sugar is heading down into the 19 – 18s may still be valid. I wait and watch.
