Core Viewpoint - The raw sugar market is experiencing a downward trend, with low participation from both bulls and bears, indicating significant selling pressure [1] Market Analysis - The March contract for raw sugar has shown a doji candlestick pattern, suggesting indecision in the market, with trading range narrowing compared to the previous day [1] - Domestic spot prices continue to decline, driven by ongoing negative sentiment in the market, with no signs of a bottom yet [1] - The market is assessing the production and sales dynamics in Northern China and the accumulation of sugar content in Southern China, indicating a need for dynamic balance [1] Trading Insights - In the Liuzhou market, the contract 26013 opened high but closed lower, indicating strong selling pressure with increasing transaction and order volumes [1] - The focus is on the resistance level at 5405; if this level holds, a test of the support at 5375 may occur, potentially leading to a short-term rebound [1] - The 2601 contract is showing strong bearish sentiment, with no significant rebound despite being oversold, indicating a strong will to sell among bears [1] - A potential short-term reversal may form if the price can hold above 5355, despite the current pressure at 5390 [1]