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Sugar Wave Analysis – 26 November, 2019

  • Sugar reversed from resistance area
  • Likely to fall to 12,50

Sugar recently reversed down from the resistance area lying between the resistance level 12,750 (which has been reversing the price from March), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from 2018.

The downward reversal from this resistance area started the active short-term impulse wave 3.

Sugar is expected to fall further toward the next support level 12,50 (low of the previous impulse wave (i)).

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