Sugar Wave Analysis – 24 April, 2020

• Sugar broke key support level 10.00
• Likely to fall to 9.50

Sugar recently broke the key support level 10.00 (which stopped the previous sharp downward impulse waves in March and earlier this month)

The breakout of the support level 10.00 strengthened the bearish pressure on this currency pair – accelerating the active minor impulse wave (iii).

Sugar is expected to fall further in the active impulse waves 3 and (3) toward the next support level 9.50 (former support from March).