* to get a close above the 20 WMA, currently around 17.70, which would be the first since 9/30 of 2012 (highlighted in dark blue)
Well, the 20 WMA officially closed @ 17.71 and the weekly close for Sugar was 17.68. It met expected resistance at this level and closed below. This area also coincides with the 100 DMA @ 17.73. It will be interesting to see what this market does next week. Will it break through this resistance or retrace back?
Bulls want to see either a close above the 20 WMA and 100 DMA or support on any breaks around 17.30-17.43 (10 WMA along with 10, 20, and 50 DMA).
Bears want to see prices close below that 17.30-17.43 area, which will set up a move to test that 16.70 low.
Weekly Chart:
Daily Chart:
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