Sugar Futures ( SB1! ), H4 Potential for Bullish Continuation
Title: Sugar No. 11 Futures ( SB1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 21.18
Pivot: 18.94
Support: 20.04
Preferred case: Looking at the H4 chart, my overall bias for SB1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 21.18, where the previous swing high is.
Alternative scenario: Price may head back down towards the overlap support at 20.04, slightly below where the 38.2% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 21.18
Pivot: 18.94
Support: 20.04
Preferred case: Looking at the H4 chart, my overall bias for SB1! is bullish due to the current price crossing above the Ichimoku cloud , indicating a bullish market. If this bullish momentum continues, expect price to continue heading towards the resistance at 21.18, where the previous swing high is.
Alternative scenario: Price may head back down towards the overlap support at 20.04, slightly below where the 38.2% Fibonacci line is.
Fundamentals: There are no major news.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.