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Sugar (SUGAR/USD) Daily Chart Analysis 10/1

OANDA:SUGARUSD   CFDs on Sugar
Commodity Analysis, Implications and Outlook
Sugar currently is stuck in a multi-year downtrend. Nevertheless, the decline to the long-term outer Sugar Dip $0.08955 area produces the potential for short to medium term bullish action. Following this bounce, we expect to see the Sugar market to continue the downtrend right up until extends to its historic new support.

Except for a strong bullish move, we predict Sugar to rally to the Key Resistance $0.1084. At this stage, bears will more than likely declare their dominance and protect the downtrend resistance. The touch of the Key Resistance will set off the resumption of the downtrend...More
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