Sugar Futures (SBK2022), H1 Potential Bearish Dip
Type: 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.
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.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.