Is wave 2 complete or do we have more downside to go in sugar?????

Sugar looks to have completed a 5 wave up pattern and now is working on the wave 2 of wave 1.

support comes in at the prior wave 4 @ 15.47 on the front month march contract.

-   If this is wave 2 before a wave 3 targets would reach as high as 18.30-18.50

-  Wave 2's can retrace as low as the entire wave 1.the norm for wave 2's is to retrace .618 to .786 of the first wave. This would be somewhere between the 15.05 and 15.33.


Resting Orders placed above 17.22 on the( Oct) contract and .618 support comes in at 16.28. 


Lets see if we can catch a wave 3

March sugar daily chart