The sugar has two main reasons for be bought right now:
1. The Sugar is following a big daily range, which know has started to go bullish and all the indicators indicate this. The RSI is the mainly range indicator, and it is indicating a buy in hourly and daily frame
2. The Sugar has broken a important bearish channel, now a long is happening, and it going to continue with this pattern
A long position can be entered right now with the opening of the market, or also the trader could wait for a retest of the bearish channel as that resistance has been broken.
The long can extend its winnings up to 18.350
Any violation of the price 16.400 would invalidate this setup
Have a grate trading day. Like, Comment, Subscribe!
1. The Sugar is following a big daily range, which know has started to go bullish and all the indicators indicate this. The RSI is the mainly range indicator, and it is indicating a buy in hourly and daily frame
2. The Sugar has broken a important bearish channel, now a long is happening, and it going to continue with this pattern
A long position can be entered right now with the opening of the market, or also the trader could wait for a retest of the bearish channel as that resistance has been broken.
The long can extend its winnings up to 18.350
Any violation of the price 16.400 would invalidate this setup
Have a grate trading day. Like, Comment, Subscribe!