Sugar No. 11 Futures ( SB1! ), H4 Potential for Bearish Drop

Type:
Bearish Drop

Key Levels:
Resistance:
21.18
Pivot:
21.18
Support:
19.30

Preferred Case:
Looking at the H4 chart, my overall bias for SB1! is bearish due to the current price crossing below the Ichimoku cloud, indicating a bearish market. If this bearish momentum continues, expect price to continue heading towards the support at 19.30, slightly below where the 23.6% Fibonacci line is.

Alternative Scenario:
Price may head back up towards the resistance at 21.18, where the 5previous swing high is.

Fundamentals:
There are no major news.

Source: Tickmill

Technical Analysis & Forecast 15.04.2024

EURUSD, “Euro vs US Dollar” The EURUSD pair completed a decline wave, reaching 1.0622. Today, the market is forming a consolidation range above this level.

Ichimoku Cloud Analysis 15.04.2024 (GBPUSD, USDCAD, AUDUSD)

GBPUSD, “Great Britain Pound vs US Dollar” GBPUSD is correcting after a rebound from the support level. The instrument is going below the Ichimoku Cloud,

Murrey Math Lines 12.04.2024 (Brent, S&P 500)

Brent Brent quotes are above the 200-day Moving Average on D1, indicating a prevailing uptrend. The RSI has broken the support line, exiting the overbought

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