Mar-21 #11 world raw sugar closed lower for a second session on Wednesday, Nov. 4. The contract tested the 20-day moving average around 14.50 but closed above that level. The two-session slide gave back about half the gains of Monday’s session, which saw the contract’s highest close since mid-February.
In the last week of October, Mar-21 #16 domestic raw sugar consolidated around psychological retracement near 28.00. The contract pushed higher this week, breaking that resistance level on Tuesday and gaining 0.55 on Wednesday to a close above the upper Bollinger Band at 28.75, a fresh contract high.
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