$SUGAR (Sugar) #大宗商品 #Tradefi Technical Analysis:
On a higher time frame, the structure has successfully broken through, indicating a change in structure.
Currently, at the 15-16 price level (support and resistance switching positions), there is resistance.
If the price can retrace to around the 14.5 level, it is a long-term buying opportunity.
If, on a higher time frame, the price closes below 14, the breakout of the structure will be considered failed.
Figure 2: On an even higher time frame, a prediction is made based on Fibonacci and the 3-drive pattern.
PS: Making money in a bull market is easier. Don’t just focus on cryptocurrencies because we aim to profit; it doesn’t matter which market we are in.
On a higher time frame, the structure has successfully broken through, indicating a change in structure.
Currently, at the 15-16 price level (support and resistance switching positions), there is resistance.
If the price can retrace to around the 14.5 level, it is a long-term buying opportunity.
If, on a higher time frame, the price closes below 14, the breakout of the structure will be considered failed.
Figure 2: On an even higher time frame, a prediction is made based on Fibonacci and the 3-drive pattern.
PS: Making money in a bull market is easier. Don’t just focus on cryptocurrencies because we aim to profit; it doesn’t matter which market we are in.
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