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Sugar Futures (SBK2022), H1 Potential for Bearish Dip!

36429 sugar futures sbk2022 h1 potential for bearish dip

Type: Bullish BounceKey Levels:Resistance: 19.88Pivot: 19.59Support: 18.84Preferred Case: We see the potential for further bearish continuation from our Pivot at 19.59 in line 78.6% Fibonacci projection towards our 1st support at 18.84 in line with 61.8% Fibonacci retracement and 100% Fibonacci Projection . Our bearish bias is further supported by stochastic indicator where it is at resistance level.Alternative Scenario:Price might move towards the 1st resistance level of 19.88 in line with 100% Fibonacci projection and -27.2% Fibonacci expansion.Fundamentals:No major news

Source: Tickmill

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