- Sugar broke strong support area
- Likely to fall to 10.00
Sugar recently broke through the strong support area lying between the key support level 10.70 (previous multi-month from last September) and the support level 10.50 (which stopped the previous impulse wave (1)).
The breakout of this support area should accelerate the active impulse wave (3).
Sugar is likely to fall further toward the next round support level 10.00 – the breakout of which can lead to further losses toward 9.50.