New York March sugar may break a support at 20.10 cents per lb and fall more towards the next support at 19.67 cents, as suggested by its wave pattern and a Fibonacci retracement analysis. The deep fall on Thursday suggests a continuation of the downtrend from the Feb. 6 high of 21.49 cents. The support at 20.10 cents has been tested five times on the hourly chart, chances are it may be broken this time.

(This article was published on February 24, 2017)
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