FxPro - Analytics

FxPro

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Sugar Wave Analysis – 19 March, 2019

  • 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).

Sugar broke multi-month support level 10.70


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