March ICE (SBAH0) Sugar:
SBAH0 is breaking below the lower channel line. The picture is heavy. As long as it remains under 27.60, it is positioned to challenge support at 27.00, then 26.50-26.55. A close below 26.50 will confirm medium-term weaknes25.10 and 25.00.
Invalidation: a close above 27.60 will signal a return towards the recent high at 28.95.
March LIFFE (QWH0) Sugar:
QWH0 presents signs of weakness. As long as it remains under 725, it is positioned to challenge support at 716, then at 705, 700 and 695. Then, a close below 695 would be a medium-term bearish signal and point to a decline towards 675, then 665.
Invalidation: a return above 725 would point to a return to challenge the recent high at 748.
