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Sugar prices have continued their downward trajectory, breaching the initial target of $19.32 and settling below it. This confirms the dominance of the bearish trend, paving the way for further declines towards subsequent targets starting at $18.75 and extending to $18.05.
The bearish sentiment is supported by trading activity below the EMA50, reinforcing expectations of sustained downward movement. This outlook remains valid unless prices breach $19.82 and establish a hold above this level.
Today’s anticipated trading range is expected to oscillate between a support level at $18.80 and resistance at $19.50.
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