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Sugar prices exhibited a robust downward movement in the recent session, approaching the anticipated target at 21.35. The momentum suggests a potential breach of this level, paving the way for further declines towards the next downside target at 20.60.
The prevailing bearish trend, triggered by the previously completed double top pattern, remains active and valid for the foreseeable future. The sustainability of this bearish wave hinges on the price’s ability to remain below the critical level of 22.80.
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The expected trading range for today is projected to fluctuate between the support at 21.20 and the resistance at 21.95, underscoring the persisting bearish sentiment.
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Expected Trend for Today: Bearish
