- Sugar broke multi-month support level 10.70
- Likely to rise to 10.00
Sugar recently broke sharply below the strong multi-month support level 10.70 (former yearly low from the middle of 2019).
The breakout of the support level 10.70 should further accelerate the active multi-week downward impulse sequence ③ from the start of this year.
Sugar is likely to fall further toward the next strong round support level 10.00 (which reversed the price sharply twice in 2018).