Sugar Wave Analysis – 19 March, 2020
March 19, 2020 @ 17:50 +03:00
- 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).