Sugar Wave Analysis – 29 November , 2018
November 29, 2018 @ 18:07 UTC
- Sugar rising inside short-term wave 2
- Further gains are likely
Sugar continues to rise inside the short-term corrective wave 2, which started earlier from the support area lying between the support level 12.50, lower daily Bollinger Band and the 38.2% Fibonacci correction level of the previous upward impulse wave C from September.
The active short-term corrective wave 2 belongs to the medium-term impulse wave (3) from the end of October.
Sugar is expected to rise further and re-test the next resistance level 13.50 (forecast price calculated for the completion of the active corrective wave 2).