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SBK2022

Sugar Futures (SBK2022), H1 Potential Bearish DipType: Bearish Dip Resistance : 19.89 Pivot: 19.63 Support : 19.05 Preferred case: Price is approaching our pivot level of 19.63 in line with 78.6% Fibonacci retracement. We see the potential for a bearish dip towards our 1st support level of 19.05 in line with 50% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level. Alternative scenario: Otherwise, price could potentially rise to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension.. Fundamentals: No major news.
ICEUS:SBK2022Short
by Genesiv
Sugar Futures (SBK2022), H1 Potential Bearish ReversalType: Bearish Reversal Resistance : 19.89 Pivot: 19.57 Support : 19.09 Preferred case: Price is approaching our pivot level of 19.57 in line with 138.2% Fibonacci extension and 78.6% Fibonacci retracement. We see the potential for a bearish reversal towards our 1st support level of 19.09 in line with 38.2% Fibonacci retracement. Our bearish bias is further supported by the stochastic indicator where price is trading at the resistance level. Alternative scenario: Otherwise, price could potentially go to the 1st resistance level at 19.89 which is in line with 161.8% Fibonacci extension and 61.8% Fibonacci projection. Fundamentals: No major news.
ICEUS:SBK2022Short
by Genesiv
Sugar Futures (SBK2022), H4 Bullish BounceType : Bullish Bounce Resistance : 19.88 Pivot: 19.01 Support : 18.56 Preferred case: Price is near the pivot level of 19.01 in line with 38.2% Fibonacci retracement and overlap support. We expect price to move towards 1st resistance level of 19.88 in line with 61.8% Fibonacci projection, along with a swing high resistance. Our bullish bias is supported by price trading above the Ichimoku cloud indicator. Alternative scenario: Price may break our pivot structure and head for 1st support at 18.56 in line with 61.8% Fibonacci projection. Fundamentals: No Major News.
ICEUS:SBK2022Long
by Genesiv
Sugar Futures (SBK2022), H4 Bearish ContinuationType : Bearish Continuation Resistance : 18.95 Pivot: 18.34 Support : 17.50 Preferred case: Price is near the pivot level of 18.34 in line with a 100% Fibonacci projection. We expect price to move towards 1st support level of 17.50 in line with a graphical swing low support. Our bearish bias is supported by price trading under Ichimoku cloud indicator. Alternative scenario: Price may break our pivot structure and head for 1st resistance level at 17.50 in line with 38.2%. Fundamentals: No major news.
ICEUS:SBK2022Short
by Rockqet
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
ICEUS:SBK2022Short
by Genesiv