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Sugar prices are currently testing the neckline of a double top pattern on the chart, poised for a potential breakout. A decline below this level could reinforce the bearish trend, with target prices set at $21.55, followed by $20.80.
The bearish outlook remains intact for the near future unless prices breach the resistance level of $22.73 and maintain a daily close above this mark.
For today, the anticipated trading range for sugar is between the support level at $21.80 and the resistance level at $22.65.
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