Technical analysis

Sugar Wave Analysis – 17 July, 2019

Sugar Wave Analysis – 17 July, 2019
  • Sugar broke support area
  • Further losses are likely

Sugar recently broke the support area lying between the key support level 12.00 (monthly low from June) and the support trendline from the middle of May.

The breakout of this support area accelerated the active short-term waves (c) and 2.

Sugar is expected to fall further and retest the next support level 11.70 (target for the completion of the active ABC correction 2).

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