Sugar's latest bout of decay has seen it violate its December 2011 low and its long-term bearish trend looks set to persist, says Mark Sturdy at www.sevendaysahead.com.
The next target is the May 2011 low at 20.40, and then 18.45. Expect rallies to crumble fairly easily for now, presenting possible short-selling opportunities.
City Trades are written by selected external contributors and are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.
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