September 23, 2020 at 03:10PM
• Sugar broke resistance area
• Likely to rise to 13.30
Sugar recently broke the resistance area lying between the resistance level 12.77 (former multi-candle high from August) and the 61.8% Fibonacci correction of the downward price impulse 1 from August.
The breakout of this resistance area accelerated the active short-term corrective wave 2 from the start of September.
Sugar is expected to rise further toward the next resistance level 13.30 (former monthly high from August and the target for the completion of the active wave 3).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/sugar-wave-analysis-23-september-2020-20200923/
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