Panjang
SUGAR: Feb 7, 2024
Analyst: Shane Hua (CEWA - Master Candidate),
Hi traders, today's forecast is on commodities. Well, commodities tend to experience rapid fluctuations, some of which bear similarities to Gold.
Previously, I forecasted that Sugar would decrease to a lower level, and it turned out to be accurate. If I remember correctly, my initial target was 22.98.
Now, I believe Sugar may have completed the fourth wave (blue), you know, the common retracement target for the fourth wave is 0.382. At least it seems to have a solid basis for completion, and I am expecting a rally to higher levels in the market. Yes, the low at 23.01 needs to hold firm; what I mean is that prices must consistently stay above it for my bullish view on Sugar to remain intact. Conversely, a drop below it indicates I was wrong, and then I will return to update my latest forecasts.
So, that's my forecast. Have a great time, goodbye my friends.
Hi traders, today's forecast is on commodities. Well, commodities tend to experience rapid fluctuations, some of which bear similarities to Gold.
Previously, I forecasted that Sugar would decrease to a lower level, and it turned out to be accurate. If I remember correctly, my initial target was 22.98.
Now, I believe Sugar may have completed the fourth wave (blue), you know, the common retracement target for the fourth wave is 0.382. At least it seems to have a solid basis for completion, and I am expecting a rally to higher levels in the market. Yes, the low at 23.01 needs to hold firm; what I mean is that prices must consistently stay above it for my bullish view on Sugar to remain intact. Conversely, a drop below it indicates I was wrong, and then I will return to update my latest forecasts.
So, that's my forecast. Have a great time, goodbye my friends.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.