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Sugar Prices Experience Downward Pressure

by Jennifer

Sugar prices found themselves subject to significant downward pressure in the previous session, leading to a breach of the 26.74 level and a subsequent descent towards the crucial support at 26.08. This development hints at the potential for a return to a correctional bearish trajectory, with a further noteworthy bearish target lying at 25.54.

It is imperative to recognize that the prevailing bias in the market is characterized by a bearish tone, a stance that is likely to be sustained in the forthcoming sessions, provided that the price remains below the pivotal threshold at 26.74.

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In light of these circumstances, the expected trading range for the current session is anticipated to oscillate between the support at 25.70 and the resistance situated at 26.60, reaffirming the current bearish outlook.

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