Type: Bearish ReversalKey Levels:Resistance: 19.40Pivot: 18.99Support: 18.34Preferred Case:Prices are on bearish momentum. Prices might potentially move from pivot level of 18.99 in line with 100% Fibonacci projection and 50% Fibonacci retracement towards the 1st support level at 18.34 in line with 50% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is further supported by stochastic indicator as it is trading near resistance level.Alternative Scenario: Price can potentially goes up to the 1st resistance level of 19.40 in line with 127.2% Fibonacci retracement and 127.2% Fibonacci extension.Fundamentals:No major news
from Tickmill Expert Blog - Forex Traders Blog https://www.tickmill.com/blog/sugar-futures-sbk2022-h4-bearish-reversal"
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