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THE PACIFIC COMMODITY LETTER
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360-289-9441(March 12, 2000) SUGAR: May sugar is slowly working its way out of a bearish trend but it is not there yet. It needs a close above 5.48 and this past week's high was 5.29 and closed at 5.22. Stochastics are bullish in all time frames; RSI is not an issue; direction and momentum indicators are bullish in the short term, but mixed further out. 9- and 18-day moving averages are bearish. I know that most small speculators are anxious to buy this market, but the trend is still down...and should be respected.
Martin B. Miller
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