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Sugar prices are currently finding solid support at $17.96, showing a brief bullish trend and potentially testing the resistance level indicated on the chart. However, with stochastic indicators losing positive momentum, there’s a likelihood that the price could resume a downward trajectory. If prices break below the $17.96 level, they may target $17.35 as the next negative objective.
The forecast suggests maintaining a bearish outlook unless prices rise above $18.60 and stay there. For today, the expected trading range is between $17.70 for support and $18.45 for resistance.
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