We shared sugar already back on May 08, where we talked about an ongoing deeper, higher degree correction, which can be now finally coming to an end. CLICK HERE
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.
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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