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Sugar forms gravestone doji pattern,decline till $14 is possible

ICEUSA:SBK2016   Sugar #11
51 0 5
Candle stick pattern formed – Gravestone Doji

Major resistance - $16.75.

MACD (Weekly chart) – Bearish Divergence

Sugar             has made a high of $16.75 and started to decline from that level. It is currently trading around $15.87.

Short term correction is possible till $15.06/$14 is possible as long as resistance $16.75 holds.

Any break above $16.75 will take the commodity till $17.45 in short term.

The commodity minor support is around $15.60 and break below targets $15.05/$14.

It is good to sell on rallies around $15.95-$16 with SL around $16.75 for the TP of $15.06/$14.
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