糖市早评：空头回补20251209

Core Viewpoint - Raw sugar is experiencing fluctuations without significant driving factors, with the March contract showing signs of support at 14.80 cents, indicating some short positions are being covered [1] Market Analysis - Domestic spot prices have entered a phase of slight differentiation after a continuous decline, potentially due to expectations of policy protection, leading sellers in the wholesale market to buy back, resulting in a short-term halt in price drops [1] - In the Liuzhou market, the 26013 order contract formed a doji candlestick pattern with slightly increased trading volume, indicating strong resistance at 5340, as the total order volume is increasing, suggesting active selling by sellers [1] - Despite a price discount of 100 (using Liuzhou as an example), current spot transactions are poor, and with profits under pressure, the necessity to reduce inventory in the wholesale market is evident [1] Technical Indicators - The 2601 sugar contract formed a bullish candlestick with a low open and high close, leading to a buying signal at 5302, prompting a shift from short to long positions [1] - The upcoming test will be whether this buying momentum can lead to a second buying opportunity at 5340; failure to do so may indicate strong resistance, resulting in a range-bound movement between 5320 and 5350 [1]