Sugar Wave Analysis – 26 August, 2019

• Sugar reversed from support area
• Further gains are likely

Sugar recently reversed up from the support area located between the support level 11.40 (which has been reversing the price from May) and the lower daily Bollinger Band.

The upward reversal from this support area started the active medium-term impulse wave (3).

Sugar is expected to rise further and retest the next resistance level 11.90 (top of the previous impulse wave (1)).