Core Viewpoint - The raw sugar market is experiencing a downward trend, with March contracts showing resistance at 15.30 cents and a focus on the support level at 14.80 cents in upcoming trading sessions [1] Market Performance - Domestic spot prices have resumed a slight decline, indicating weakness in the market, leading downstream buyers to adopt a wait-and-see approach for lower prices [1] - In the Liuzhou market, the contract price fell below the 5300 cents mark, forming a bearish pattern, suggesting that the downward pressure remains effective under the 5330 cents resistance level [1] Trading Dynamics - The trading volume for the 2605 sugar contract decreased, yet prices reached a recent low, reflecting a strong bearish sentiment in the market [1] - The breakdown below the 5220 cents support level indicates a continuation of the downward trend, with attention now shifting to the potential rebound strength at the 5180 cents level [1]

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]