Sugar recently reversed up from the key support area lying between the support level 11.75 (which has been reversing the price from January), lower daily Bollinger Band and the 61.8% Fibonacci correction of the previous upward impulse from last September.
The upward reversal from this support area completed the previous minor ABC correction 2 – which belongs to the impulse wave (3) from April.
Sugar is expected to rise further and retest the next resistance level 12.17 (former support level from March).
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