Market Snapshots

Sugar Wave Analysis – 19 March, 2020

Sugar Wave Analysis – 19 March, 2020
  • Sugar broke multi-month support level 10.70
  • Likely to fall 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).

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