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Sugar Wave Analysis – 19 February, 2019

Sugar Wave Analysis – 19 February, 2019
  • Sugar broke key resistance level 13.10
  • Further gains are likely

Sugar recently broke through the key resistance level 13.10 (which has been repeatedly reversing the price from the start of November, as can be seen below).

The breakout of the resistance level 13.10 should accelerate the active short-term impulse wave (iii) – which belongs to wave (3) from the start of January.

Sugar is expected to rise further and re-test the next resistance level 14.00 (high of the previous impulse wave (1) from the end of October).

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Source: FxPro


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