Technical analysis

Sugar Wave Analysis – 26 September , 2018

  • Sugar broke the key support level 10.50
  • Further losses are likely

Sugar recently broke through the key support level 10.50 (which stopped the previous sharp impulse wave (i) at the start of September, as can be seen below).

The breakout of the support level 10.50 continues the active short-term impulse wave (iii), which belongs to the medium-term impulse wave (3) from the start of June.

Sugar is expected to fall further and retest the next support level 9.85 (low of the previous short-term impulse wave 1 from the middle of August).

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