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Sugar prices demonstrated clear positive movement in recent sessions, reaching the resistance line on the chart but remaining below it. The stochastic indicator shows a loss of positive momentum and is nearing a negative crossover. This suggests a potential continuation of the bearish trend, with a key target at $17.35.
The bearish outlook will persist unless the price breaks above $18.30 and maintains a daily close above this level.
Today’s anticipated trading range is between $17.50 for support and $18.25 for resistance.
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