Sugar Wave Analysis – 17 May, 2019

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FxPro Daily Economic Events
FxPro Daily Economic Events
  • Sugar broke strong the support level 11.75
  • Further losses are likely

Sugar under pressure after the earlier breakout of strong the support level 11.75 (which has been reversing the price from January).

This breakout of the support level 11.75 should accelerate the active impulse wave C of the medium-term ABC correction (2) from October.

Sugar is expected to fall further and retest the next support level 11.00 (forecast price for the completion of the active impulse wave C).

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