SUGAR

Sugar price is offering a great opportunity for the long-term positions. Price is now testing the 9 year-long trend support between 17 and 18 levels. Over the past 2 years sugar price pulled back from 35 levels to the lower boundary of its long-term uptrend. RSI formed positive divergence on the weekly scale. Breakout above 20 levels will reverse the 2 year-long downtrend. 17-18 area should act as strong long-term support.