Sugar Wave Analysis – 02 March, 2020
March 02, 2020 @ 17:34 +03:00
- Sugar broke support area
- Likely to fall to 13.60
Sugar recently broke through the support area lying between the support levels 14.45, 14.10 (low of the previous downward correction (iv)) and the 61.8% Fibonacci retracement of the previous upward impulse from January.
The breakout of this support area accelerated the active short-term ABC correction 4.
Sugar is likely to fall further toward the next support level 13.60 (forecast price calculated for the completion of the active ABC correction 4).