Sugar Futures (SBK2022), H4 Bearish Reversal!
Title: Sugar Futures ( SBK2022 ), H4 Bearish Reversal!
Type : Bearish Reversal
Resistance : 19. 40
Pivot: 18.99
Support : 18.34
Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection . Our bearish bias is further supported by stochastic indicator as it is trading near resistance level .
Alternative scenario: Price can potentially goes up to the 1st resistance level of 19. 40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension .
Fundamentals: No major news
Type : Bearish Reversal
Resistance : 19. 40
Pivot: 18.99
Support : 18.34
Preferred case: Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection . Our bearish bias is further supported by stochastic indicator as it is trading near resistance level .
Alternative scenario: Price can potentially goes up to the 1st resistance level of 19. 40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension .
Fundamentals: No major news
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.