Near Term Trend: Bearish
Fridays close: 13.45 (+ 1.20%)
UPDATE: I recommended shorting sugar futures starting at 13.89 with stops in place on a close above 14 and with a target of 12.07.
Sugar bounced this week, but remain below my target entry for short sales at 13.89. Im lowering resistance to 13.79 this week. Target for the trade is raised to 12.63.
I would be shorting at 13.79 with stops on a daily close above 14.05 and with a downside target of 12.63.