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Sugar prices have resumed their downward trend after encountering resistance on the chart, driven by negative stochastic indicators. Traders are anticipating further declines in the coming sessions, with an initial target of $17.96. A drop below this level could see prices fall directly to $17.35.
To maintain the anticipated decline, it is crucial for prices to stay below $18.95. If this resistance is breached, there is a potential for a recovery, with prices possibly reaching up to $20.27.
For today, the expected trading range for sugar is between a support level of $18.00 and a resistance level of $18.80.
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