Sugar Futures ( SB1!), H1 Potential for Bullish Bounce
Type: Bullish Bounce
Resistance: 20.32
Pivot: 19.96
Support: 19.81
Preferred case: We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance.
Alternative scenario: Alternatively, the price may break our pivot structure and head for 1st support at 19.81 in line with 61.8% Fibonacci retracement.
Fundamentals: No major news.
Resistance: 20.32
Pivot: 19.96
Support: 19.81
Preferred case: We see the potential for a bounce from our pivot at 19.96 in line with 50% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st resistance at 20.32 along with graphical swing high resistance.
Alternative scenario: Alternatively, the price may break our pivot structure and head for 1st support at 19.81 in line with 61.8% Fibonacci retracement.
Fundamentals: No major news.