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Sugar Futures (SBK2022), H4 Bullish Bounce

35615 sugar futures sbk2022 h4 bullish bounce

Type: Bullish BounceKey Levels:Resistance: 19.88Pivot: 19.01Support: 18.56Preferred Case:Price is near the pivot level of 19.01 in line with 38.2% Fibonacci retracement and overlap support. We expect price to move towards 1st resistance level of 19.88 in line with 61.8% Fibonacci projection, along with a swing high resistance.Alternative Scenario:Price may break our pivot structure and head for 1st support at 18.56 in line with 61.8% Fibonacci projection.Fundamentals:No Major News.

Source: Tickmill

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