- Sugar falling impulse wave (iii)
- Further losses are likely
Sugar continues to fall inside the short-term impulse wave (iii) – which previously broke through the key, multi-multi-month support level 11.35.
The breakout of this support level is aligned the active impulse wave C – which belongs to the longer-term ABC-wave (B) from February.
Sugar is expected to fall further and retest the next support level 10.7500 (target price for the completion of the active impulse wave (iii)).