The end of the correction in wave 2. On sugar, and thus to complete the bearish pattern after the last rise, the decline may continue to the level of 161% at prices of 15.88 in the medium term
The sugar correction continues in wave 2 and targets the 78% level at 19.06 prices to end the correction before returning and falling again in wave 3
Going closer to the daily range, we expect sugar to go down in wave 3 of (3) of ((3)) after wave 2 ends, critical resistance at 19.63
We are now witnessing the formation of the motive wave ((C)) whose targets varies according to the formed corrective pattern. If the model is an extended flat, its target will be 29.79, but if the model is a running flat, the target will be 23.68 . The target depends on the movement pattern of the prices at these targets. The critical limit which support this motive wave is 9.05.
From wave ((III)) high, we expect sugar to go sideway to form a triangle in wave ((IV)) before thrusting higher in wave ((V)).