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]

Group 1 - The raw sugar market is experiencing fluctuations, with the March contract testing the support level of 14.80 cents and closing around 15 cents, indicating a strong short-term rebound due to a lack of negative news [1] - Domestic spot prices continue to decline, with new sugar in Guangxi dropping below the 5500 yuan mark, reflecting low market interest at this price level and leading to a weak oscillation as inventory is being consumed [1] - The market in Liuzhou shows a continuous decline in orders, with the daily high failing to reach the 5400 yuan mark, indicating significant upward resistance and a potential test of lower support levels [1] Group 2 - The sugar futures contract 2601 faced resistance at the 5405 yuan level, suggesting that bullish expectations have been adjusted downward, with a focus on the performance of the 5400 yuan support level [2] - The short-term bullish sentiment may need to consider profit-taking if the market fails to show strength in rebounding from the 5400 yuan level [2]

Group 1 - The core viewpoint indicates that raw sugar prices have experienced a rebound followed by a decline, with the March contract closing at 15.30 cents, facing strong resistance [1] - Domestic spot prices have seen a significant decrease, leading to a collapse of the previously stable support platform, indicating increased supply pressure on buyers [1] - The market in Liuzhou showed a trading pattern of opening lower and then declining, resulting in a long lower shadow on the daily candlestick, suggesting intense trading activity around key psychological support and resistance levels [1] Group 2 - The sugar contract 2601 is experiencing a continued reduction in open interest and a fluctuating trend, with expectations of strong resistance around 5430 as trading shifts into December [1] - Following a gap down in trading volume, attention will be on the potential rebound at 5405; if this rebound fails, the price may test the support level at 5345 [1]

Group 1 - Raw sugar has rebounded from a five-week decline, with attention on the 15-cent resistance level this week. If this resistance holds, it may indicate a short-term exhaustion of short positions, leading to a potential pullback towards the 14.70-cent support level [1] - The domestic market is currently weak as old sugar needs to be digested before new sugar enters the market. Prices are not high enough to encourage downstream replenishment, resulting in a continued consolidation phase [1] - The market in Liuzhou shows a cautious trading environment, with the contract displaying four consecutive doji candlesticks after a low of 5426, indicating indecision among buyers and sellers [1] Group 2 - The 2601 sugar futures contract shows a high and then a pullback, forming a shooting star pattern on the weekly chart, with 5460 as a key support level to watch [2] - Short-term indicators suggest a potential for oscillation within the range of 5460 to 5504, indicating a cautious trading approach [2]