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ICE futures

NY sugar biased to break support at 13.03 cents

New York March sugar is biased to break a support at 13.03 cents per lb and fall more towards the next support at 12.86 cents, driven by a wave 5. This is the fifth wave of a five-wave cycle from the Dec. 31, 2015 high of 15.44 cents. This wave is capable of extending to 12.68 cents, its 161.8 percent Fibonacci projection level, based on the length of the first wave labelled 1. The…
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