Sugar Wave Analysis – 27 February, 2020

• Sugar broke daily up channel
• Likely to fall to 14.50

Sugar recently broke the daily up channel from December – which accelerated the active corrective wave 4 from the start of February.

The price recently broke the support level 14.85 (low of the earlier wave (a), coinciding with the 38.2% Fibonacci correction of the previous upward impulse from January).

Sugar is likely to fall down further toward the next support level 14.50 (forecast price for the completion of the active wave 4).