Technical Forecast for Sugar

Sugar #11 hovering between 16.65 & August lows at 16.26 for about 2 weeks now. The general rule is to trade the range and wait for a breakout. A break lower sees 16.22 but below here we could target 16.09.

 

Immediate resistance at 16.50/54 could hold the topside but above here look for another test of 16.65/67 for a selling opportunity. We need stops on shorts above 16.70 however as a break higher should target 16.77 for an excellent selling opportunity.