date:Nov 08, 2012
to take place. As the magnified one year daily chart below shows, since recently finding support around $19.25, sugar has twice tried, and subsequently failed, to close over $19.68.
Tuesday's action saw contract prices once again bounce off support at $19.26 and rise to an intraday high of $19.77 before quickly selling off and closing at $19.57.
Needless to say, something is going to give. Whether that something is $19.25 support or $19.68 resistance remains to be seen, but the corresponding