Technical analysis

Sugar Wave Analysis 25 November, 2020

Sugar Wave Analysis 25 November, 2020

• Sugar falling inside minor impulse wave 1

• Likely to reach 14.500

Sugar continues to fall inside the minor impulse wave 1 which started previously from the powerful resistance area near the key resistance level 15.50.

The resistance area near the resistance level 15.50 was strengthened by the upper daily Bollinger Band and by the resistance trendline of the weekly up channel rom April.

Sugar is likely to fall further toward the next support level 14.500 (low of the previous minor correction (b) from the start of November).

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