Technical analysis

Sugar Wave Analysis 6 January, 2021

Sugar Wave Analysis 6 January, 2021

• Sugar broke strong resistance area

• Likely to rise to 16.50

Sugar continues to rise inside the sharp uptrend – breaking though the strong resistance area located between the resistance levels 15.50 and 15.80 (former multi-month high from last February).

The breakout of this resistance area should further accelerate the already sharp upward impulse wave (3) from the middle of December.

Sugar is expected to rise further toward the next resistance level 16.50 (target price for the completion of the active impulse wave (3)).

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