September 03, 2020 at 03:30PM
• Sugar broke key support level 12.22
• Likely to fall to 11.80
Sugar continues to decline after the earlier breakout of the key support level 12.22 (former strong resistance level in June and July).
The breakout of the support level 12.22 was preceded by the breakout of the daily up channel from April – which strengthened the bearish pressure on Sugar.
Sugar is likely to fall further toward the next support level 11.80 (target price for the completion of the active impulse wave 3).
From: The FxPro Tech Analysis Team https://fxpro.news/market-snapshots/sugar-wave-analysis-3-september-2020-20200903/
Selected by fonecable.com
Search Web: Sugar Wave Analysis – 3 September, 2020
Recent Posts
- Crude Oil Over Crypto
- US Dollar Price Action Setups pre-CPI: EUR/USD, GBP/USD, USD/JPY
- Cathie Wood & Ark: Insiders Aren’t Buying the Hype
- Breaking News: ECB Holds Rates, Setting up July and September for Fireworks
- Currency Carry Trade: What is it and how does it work?
