Sugar (ICE US) (MAR6) intraday: short term rebound towards 14.82

Our pivot point stands at 14.33.

Our preference: short term rebound towards 14.82.

Alternative scenario: below 14.33, expect 14.14 and 14.04.

Comment: the RSI is below 30. It could either mean that prices are in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Sugar (ICE US) (MAR6) is trading under both its 20 and 50 period moving average (respectively at 14.60 and 14.93).

Supports and resistances:

15.03 **

14.92 *

14.82 **

14.71

14.47 last

14.40

14.33 **