Sugar's price has decayed by some 30 per cent over the past three months and the rot looks set to continue, says Ragu Dharmaratnam of Baselica.
A bearish 'head-and-shoulders' pattern was recently completed when the price dropped below 21¢. This creates a short-selling opportunity, with a price target of 14¢. Stop-losses could be placed just above 21¢.
