TradingView
Genesiv
Jan 27, 2023 1:35 AM

Sugar Futures ( SB1! ), H4 Potential for Bullish Continuation Long

Sugar No. 11 FuturesICEUS

Description

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.
More