March ICE (SBAH0) Sugar: The trend is up, but caution is warranted.
SBAH0 is still making higher highs and higher lows. However, the flatter channel and the overlapping ranges suggest that a corrective decline is looming. There is no immediate sell-signal.
From current levels, a close below 26.70 would signal the beginning of a corrective decline.
March LIFFE (QWH0) Sugar: QWH0 is presenting a stronger picture and is rising dynamically higher.
From current levels, remaining above 716 will keep QWH0 positioned to continue higher.
Invalidation: a return below 715 would point to a test of 705, then 700 and 695.
Then, a close below 695 would inflict serious technical damage to the medium-term uptrend.
