Sugar Wave Analysis – 10 Janaury, 2019

• Sugar reversed from resistance area
• Further losses are likely

Sugar recently reversed down from the resistance area lying between the key resistance level 12.90 (which reversed the price with the daily Falling Star in December) and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term impulse wave (i) – which belongs to wave 3 from the end of November.

Sugar is expected to fall further and re-test the next support level 12.25 (target price for the completion of the active impulse wave (i)).