• Sugar reversed from support area
• Likely to rise to 16.26
Sugar recently reversed up from the support area lying between the key support level 15.50 (former monthly high from November) and the 38.2% Fibonacci correction of the upward impulse (1) from last month.
The upward reversal from this support area stopped the previous medium-term ABC correction (2).
Given the strength of the predominant uptrend – Sugar is likely to rise further toward the next resistance level 16.26 (top of the previous impulse wave (1) from the start of January).
The monthly ADP labour market report showed that America created 192K new jobs in April, above…
Bears showed strength ahead of the FOMC decision. U.S. indices sagged on Tuesday as investors…
Market Picture Bitcoin's closing price on Tuesday became the lowest since late February, confirming the…
- Ebay under the bearish pressure - Likely to fall to support level 51.00 Ebay…
- GBPAUD reversed from key support level 1.9135 - Likely to rise to resistance level…
Silver has lost 2.6% since the start of the day on Tuesday to $26.4 per…
This website uses cookies