Sugar has been trading lower since 2023 when we spotted final wave V of an impulse on the weekly chart. So from Elliott wave perspective, it’s trading in a multi-year higher degree ABC corrective decline.
From Elliott wave perspective, it’s coming nicely lower within wave C of a higher degree ABC correction on the weekly basis, which can stop around 61,8%-78,6% Fibonnaci retracement and 14-13 support area, so soon be aware of a bullish reversal, ideally in 2026.
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On a daily chart, we can see it nicely falling within a projected five-wave bearish impulse into wave C, and it can be now in the final subwave “v” of C. Once we get a sharp or impulsive rebound back above channel resistance line and 18 area, that’s when support can be place, correction completed, and bulls back in the game.
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If you are interested in more analysis like this, you can watch below our latest recording of a live webinar streamed on September 22, where we covered a lot of other assets:
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