Technical : Sugar M Grade Delhi Spot : Correction Is Going On 25 Nov 2017 1:39 pm   0 Comments  |   Post Comment  |  Font Size A A A  Dated 24/11/2017 Technical : Sugar M Grade Delhi Spot : Correction Is Going On SUGAR M GRADE DELHI- 3580- Correction Being Witnessed Trend is down as prices are below the 55VA and 89 VA. Bull market structure is in place as 55VA is above 89 VA. Correction which was expect for a long time has finally been witnessed. A retracement of the rise from 2415 to 3929 is being witnessed now. The 23.6%, 38.6%, 50% and 61.8% retracement levels are placed at 3600, 3357, 3162 and 2966. The last close is at 3560 thereby testing the 23.6% retracement. On further sustains fall below 3600 expect 3357 and 3162. Resistance will come from the 55VA and 89 VA which are at 3750 and 3806. Up Trend with bull market can resume on immediate rise and close above 3806 and correction would end. But broadly, Sugar price are likely to corrective behaviour with volatility and price direction likely to down towards retracement level. Only a breakout and close above 3985 can save the price for short to medium term correction phase. Conclusion Correction phase is in progress.   Rate this story Rated 0.0    Post comment Comment : Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy. Name :   Email :       Post Comment		Latest Special Reports Weekly: ICE raw sugar futures post double digit price d... Weekly: ICE raw sugar futures extend week of loss on am... Weekly: ICE raw sugar futures track oil higher; US plan... Weekly: ICE raw sugar futures returns to weekly loss on... Weekly: ICE raw sugar futures snap four week of loss; g... more Top 5 News Desi Moong (Jaipur) Inflection Point: Retesting Key Re... Rajkot Groundnut Oil Loose Correction Underway / Next ... US Cotton net export sales for April 12-18 at 177,100 R... US soybean net sales for April 12-18 at 210,900 MT, dow... Black Matpe Polished (AP) Consolidating Above Key Supp... Top 5 Market Commentary Mentha oil 26 APR Spot Soybean Meal Prices 26 April 2024 Guar gum and Guar seed BMD CPO futures settle firm, but remain down on weekly ... Madhya Pradesh Soybean Plant Prices 26 April 2024