: Sugar Futures (SBK2022), H4 Potential for Bullish Bounce

Type: Bullish BounceKey Levels:Resistance: 19.47Pivot: 18.97Support: 18.61Preferred Case:We see the potential for bullish bounce from our Pivot at 18.97 in line 38.20% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 19.47 in line with 127.20% Fibonacci extension. Our bullish bias is further supported by prices trading above Ichimoku cloud indicatorAlternative Scenario: If prices were to dip further, they can potentially dip towards our 1st support at 18.61 which is in line with 50% Fibonacci retracement.Fundamentals: If prices were to dip further, they can potentially dip towards our 1st support at 18.61 which is in line with 50% Fibonacci retracement.

Source: Tickmill