Commodity forecast / Sugar / Our expectations
Long-term downward trend, the price entered in middle-term formation Flag, that ended with break of the support, which means that the movement will most likely continue with the long-term trend. The price remains below SMA 200 - the negative sentiment remains. Technical indicator: CCI(50) - below level -100 and does not show any sign for reversal - negative signal. Break of the main diagonal support.
Alternative scenario: If the price pulls back in the Flag formation, the negative scenario will be dismissed.
SL: 13.65
Trader Bozhidar Arabadzhiev
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