• Sugar reversed from resistance level 16.65
• Likely to correct down to 16.00
Sugar under bearish pressure after the price failed to hold the ground above the resistance level 16.65 (which stopped the previous impulse wave (i) in December).
The resistance area near the resistance level 16.65 was strengthened by the upper daily Bollinger band. The downward reversal form resistance level 16.65 started the active correction (iv).
Given the clear bearish divergence on the daily RSI indicator – Sugar can be expected to fall further toward the next support level 16.00.
The Hang Seng Index has fallen 20% from its peak, marking the start of a…
The S&P500 reached the 6000 mark but faced resistance due to fatigue and dollar appreciation.…
The crypto market has continued to cool down for the third day, with a 1.7%…
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
This website uses cookies