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Sugar prices attempted to surpass the $22.73 mark but struggled to maintain momentum, displaying a temporary bearish trend influenced by negative stochastic indicators. Traders await the accumulation of positive momentum to facilitate a breakthrough, potentially paving the way for prices to rise and reach new targets of $23.00, followed by $23.90.
Conversely, a decline below $22.35 would negate the anticipated upward trend, subjecting prices to negative pressure that could test the $21.55 range before any new recovery attempts.
Today’s expected trading range is between a support level of $22.40 and a resistance level of $23.20.
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