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Sugar (SB)
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LR Guizado•
Sugar (SB)
Macro 🚀 BULLISHHH 🚀
We broke the bullish market structure on a higher time frame. Price is making higher highs and we are currently at the best risk rewards area. Previous low of $17.20 must remain untapped for bullish continuation. If we do break $17 then most likely we’ll be expecting a retrace towards the $14 price range but for now it looks great MACRO
As suggested in our previous Commodities Weekly Recap Edition #1 price did a small retrace towards the low $18’s and hit our target perfectly for a profit of 5% from this swing trade.
Price is holding well so far but ideally $18.8 must hold.
If we lose this level then $18.4 should be the next area of interest.
As long as we DO NOT break below $18.30, bullish momentum should continue.
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Disclaimer: This content was originally published on Zelf Trade.