Sugar Wave Analysis – 02 March, 2020

• Sugar broke support area
• Likely to fall to 13.60

Sugar recently broke through the support area lying between the support levels 14.45, 14.10 (low of the previous downward correction (iv)) and the 61.8% Fibonacci retracement of the previous upward impulse from January.

The breakout of this support area accelerated the active short-term ABC correction 4.

Sugar is likely to fall further toward the next support level 13.60 (forecast price calculated for the completion of the active ABC correction 4).