2
Sugar prices ended last Friday on a decidedly negative note, breaking through the $19.23 mark and closing below it. This drop has completed the formation of a double top pattern, which signals further declines with initial targets set at $18.88 and potentially extending to $18.43.
Given this pattern, a bearish outlook is anticipated for the near term. However, should prices surpass the $19.23 level and then the $19.60 mark, the negative trend may be reversed, potentially leading to a price recovery.
For today, the anticipated trading range for sugar is between $18.70 on the downside and $19.40 on the upside.
Related topic: