New York March sugar may break a support at 20.10 cents per lb and fall more towards the next support at 19.67 cents, as suggested by its wave pattern and a Fibonacci retracement analysis. The deep fall on Thursday suggests a continuation of the downtrend from the Feb. 6 high of 21.49 cents. The support at 20.10 cents has been tested five times on the hourly chart, chances are it may be broken this time.
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