• Sugar reversed from resistance area
• Likely to fall to 17.00
Sugar recently reversed down from the resistance area located between the resistance level 18.00 (former strong support level from the end of 2016) and the upper weekly and daily Bollinger bands.
The downward reversal from this resistance area stopped the previous sharp upward impulse waves (iii), 3 and (3).
Given the still overbought reading on the weekly RSI indicator (rare sell signal) – Sugar is likely to fall down further further toward the next support level 17.00.
- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…
- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…
Even though the Bank of Japan left the key rate and parameters of the QE…
Market picture Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…
- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…
- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…
This website uses cookies