Long opportunity Sugar after <10 levels are clearly rejected
Sugar.
It was in a clear downtrend from mid February. It tested the psychological level of 10.00 mid-april, broke through, found impulse-bounce support on 9.00, to go straight back to 10.00.
After 10.00, it broke out, and slowly retraced back to 10.
Since the impulse from 9.00 to above 10.50 went quick, and the retracement back to 10.00 slow, we can see assume a new impulse back up is likely.
Also, it seems we have broken the negative downtrend.
Since we are at the support of 10.00, broke the down trend and had slow retracement to 10.00 levels, now seems a good buy opportunity.
It was in a clear downtrend from mid February. It tested the psychological level of 10.00 mid-april, broke through, found impulse-bounce support on 9.00, to go straight back to 10.00.
After 10.00, it broke out, and slowly retraced back to 10.
Since the impulse from 9.00 to above 10.50 went quick, and the retracement back to 10.00 slow, we can see assume a new impulse back up is likely.
Also, it seems we have broken the negative downtrend.
Since we are at the support of 10.00, broke the down trend and had slow retracement to 10.00 levels, now seems a good buy opportunity.
