Commodity Sugar: Technical Analysis as of now.
Commodity Sugar: Technical Analysis as of now: Commodity Sugar is crossing all the hurdles as shown in the monthly chart below:
As we can see in the chart above, Commodity Sugar is getting support recently from the following Demand levels:
- 1,082.8 which was the swing low of August 2015.
- 1,260.8 which was the swing low of February 2016.
- 1,273.1 which was the swing low of June 2017.
Commodity Sugar, recently, has also broken the two important Trend lines as depicted below:
- Trend line drawn from swing high of Septemeber 2016 to February 2017 and
- Trend line drawn from swing high of January 2018 to June 2018 as shown in the monthly chart above for Commodity Sugar.
The last hurdle for Commodity Sugar to clear is the Trend line drawn from swing high of November 2017 to January 2018 (the pink line).
It is important for Commodity Sugar to stay above our Support line of 1,273.1 for next 6 days till the end of this month of January 2019 for an upside potential.
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