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Sugar prices have successfully reached the anticipated target of $18.00 and stabilized at this level. Analysts foresee a continuation of bearish sentiment today, with expectations that prices will drop below $18.00, paving the way towards the next downside target at $17.35.
Market experts emphasize the likelihood of further declines in both intraday and short-term trading scenarios. They highlight that a breakthrough above $18.45 would alleviate current downward pressure, potentially initiating a recovery phase on an intraday basis.
Today’s anticipated trading range is projected between a support level of $17.50 and a resistance level of $18.30.
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