Sugar Wave Analysis – 13 December, 2019

Sugar broke resistance level 13.40
Likely to rise to 4.00

Sugar recently broke through the multi-month resistance level 13.40 (which stopped the previous ABC correction 2 in February).

The breakout of the resistance level 13.40 is aligned with active short-term impulse wave C of the ABC wave (2) from September.

Sugar is expected to rise further toward the next resistance level 14.00 (former resistance level from 2018 and the target price for the completion of the active impulse wave C).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: SUGUSD

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