(March 25, 2002) SUGAR: The weekly trend in Sugar is bearish but stochastics are giving signs that a market correction higher is in store. 708-710 is major weekly resistance; traders looking to trade with the weekly trend should wait for a rally to this level to sell into. Currently Sugar is correcting lower and testing support levels on the daily chart. If support holds, prices should begin moving higher and take out the highs of last week of 637. I would not argue against going long this market once the daily trend reverts to bullish.
