Sugar Futures ( SB1! ), H4 Potential for Bullish Continuation
Title: Sugar No. 11 Futures ( SB1! ), H4 Potential for Bullish Continuation
Type: Bullish Continuation
Resistance: 23.86
Pivot: 21.89
Support: 21.02
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 rise from the pivot at 21.89 before heading towards the resistance at 23.86, where the previous swing high is.
Alternative scenario: Price may head back down towards the overlap support at 21.02, slightly below where the 23.6% Fibonacci line is.
Fundamentals: There are no major news.
Type: Bullish Continuation
Resistance: 23.86
Pivot: 21.89
Support: 21.02
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 rise from the pivot at 21.89 before heading towards the resistance at 23.86, where the previous swing high is.
Alternative scenario: Price may head back down towards the overlap support at 21.02, slightly below where the 23.6% Fibonacci line is.
Fundamentals: There are no major news.