Sugar recently reversed down from the resistance area lying between the resistance level 12,750 (which has been reversing the price from March), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from 2018.
The downward reversal from this resistance area started the active short-term impulse wave 3.
Sugar is expected to fall further toward the next support level 12,50 (low of the previous impulse wave (i)).
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