Sugar trade.… will the E wave finish today??

Sugar still looks to be drawing out this wave 4 triangle with the E wave possibly ending yesterday as we broke thru the bottom trendline at 17.27 on the July contract. If this is a head fake to the downside (which ewaves will sometimes do)we should see a reverse and close back over that 17.27 level in the next few days. If not then prices cannot penetrate under 16.82. 

If we get this scenario then we most likely are looking at a w2 of the first wave. 

As of now the wave 4 is still in play…