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SB #11 possible A-B-C correction

SB #11 possible A-B-C correction

Sugar #11 ICEUSA:SBH2015

The awesome oscillator shows the downward trend is over by divergence between the 3 and 5. The next move appears to be the a-b-c correction that would form a wave A. Fibo ratios are in place suggesting the next possible targets. Weekly chart turning bullish with MACD divergence. I know the big drop today is somehow scaring (good volume tho), so to be on the “safe-side” I would suggest buying at levels close to today’s high with a stop-loss somewhere on the channeling (in light gray). Bottom line: The end of a downward trend is clear and it gives a good opportunity to trade a correction wave with reasonably low risk.