After a nice rally last week we see sugar slide and are currently trading at 1751-52 on July contract which is exactly .618 of the move up from 1705 to 1825. If this is in fact a wave 2 (intraday) of the 5th wave then a reversal back to the high should take place very soon setting up the wave 3 higher.
Holding long positions and will be watching to see if we get the reversal to set up the wave 3
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