Sugar - Daily Heikin Ashi signals possible short term correction
Please see my last post on the link below.
Last two days selling pressure eased quite some. After Price reached trend chanel bottom two days ago, yesterday we had an inside body Heikin Ashi candle with both upper and lower wicks. There is some chance for a small green candle today. As Price is far below Kijun Sen, we may see some correction finally towards 14,10 - 14,50 bearish support area.
Sugar likely had its local bottom in and is ready for a 0,5 trade unit counter long trade. However we need to keep in mind, that the big bearish picture remains intact until Price trades in the bearish trend channel and is below the Kumo.
Last two days selling pressure eased quite some. After Price reached trend chanel bottom two days ago, yesterday we had an inside body Heikin Ashi candle with both upper and lower wicks. There is some chance for a small green candle today. As Price is far below Kijun Sen, we may see some correction finally towards 14,10 - 14,50 bearish support area.
Sugar likely had its local bottom in and is ready for a 0,5 trade unit counter long trade. However we need to keep in mind, that the big bearish picture remains intact until Price trades in the bearish trend channel and is below the Kumo.
