Short term Elliottwave structure suggests that decline to 13.99 ended wave X. Rally from there is unfolding as a triple three where wave (w) ended at 15.6, wave (x) ended at 15.01, and wave (y) is proposed complete at 16.47. Second wave (x) pullback is currently in progress towards 15.56- 15.74 area as 3 swings correction before Sugar resumes higher again. We don’t like selling the proposed pullback and prefer buying dips in 3, 7, or 11 swing as far as 13.99 pivot stays intact.
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