NY sugar to peak at 26.46 cents/lb

SINGAPORE: New York sugar will peak at 26.46 cents per lb, as a wave "C" is approaching an end.

This wave has been driving the price up from the Feb. 14 low of 24.07 cents, and is expected to complete around the 161.8 percent Fibonacci projection level at 26.46 cents, a target based on the length of the wave "A" and the trough of the wave "B" at 24.07 cents.

The wave "C" may not end suddenly, instead, it could bounce up and down within a converging wedge for one trading session.

No information in this analysis should be considered as being business, financial or legal advice. Each reader should consult his or her own professional or other advisers for business, financial or legal advice regarding the products mentioned in the analyses.