Olu
Short

March Sugar

ICEUSA:SBH2015   Sugar #11
21 2 1
Comments on the chart. 1620 is where the idea is wrong
agree. when/if breaks 1600's it becomes a buy indeed.
question now is to understand whether bears will have the strength to put market below 1420. Technically what we saw yesterday could still be a correction and an alternate count would suggest that a B wave is completed and a C wave is to come. However I am become more and more bearish on ag commodities in general. Thus I am afraid you may be right.
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Olu againstthegrain
Thanks for your reply. Another possibility is a triangle which is a time waster formation. and an expanded flat. I just picked the option that made more sense to me based on the entrenched downtrend
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