SUGAR (Update)

Sugar wasn't able to rally Thursday and showed weak price action so I got out of my Long position at breakeven.  Another buying opportunity shaped up on Friday morning however.  There was a solid fib cluster or support around the 12.90-13.05 level.  You had the dominant structures 461, supporting 1 structure 361, supporting 2 structure 361, combined with DS2 and MS2 all in this zone.  You also had price divergence seen on 120M chart and got MACD confirmation later with a bullish crossover.  If these lows can hold, first target area is around 14.65-15.00.  If 15.50 can get taken out, then you will stop the lower highs, lower lows that have been seen on this most recent down move.  This would give some confirmation that a short term bottom is in place.