- Sugar id front of a great resistance which fights to break it. for the moment it is in a bearish phase if it doesnt break the level of (11) with power - For the moment there is a very high probability that the market will return to test the level of (9.60) . which is going to be an important support. - And if ever it breack it there is an 80%...
The fifth wave is performing in diagonal triangle.After the completion of wave 5, the market is expected to make a significant rally.
Bullish diagonal triangle formation + P/O divergence Be prepared for a significant rally. Clear close above the upper bound will confirm it.
Short is much more possible on this commodity according to channel and bears on the market. On downtrend we have 2 more support areas. But always market decides the way we just follow it :)