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Sugar Wave Analysis – 29 April, 2019

  • Sugar broke key support level 12.15
  • Further losses are likely

Sugar continues to fall after the recent breakout of the key support level 12.15 (which also reversed the price at the start of March).

The breakout of the support level 12.15 strengthened the bearish pressure on sugar – accelerating the active short-term ABC correction 2 from the middle of February.

Sugar is expected to fall further and re-test the next support level 11.75 (former support from January and the target for the completion of the active wave 2).

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Source: FxPro


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