Sugar Futures ( SB1! ), H1 Potential For Bearish Dip

sugar-futures-(-sb1!-),-h1-potential-for-bearish-dip

Type: Bearish DipKey Levels:Resistance: 20.69Pivot: 20.36Support: 19.86Preferred Case:We see the potential for a bearish dip from our pivot at 20.36 in line with Fibonacci extension towards our 1st support at 19.86 in line with 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is supported by the stochastic indicator where price is trading at resistance level.Alternative Scenario:Alternatively, price may break our pivot structure and head for 1st resistance at 20.69 in line with 161.8% Fibonacci extension.Fundamentals:No major news

Source: Tickmill

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