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Sugar prices have successfully breached the $21.55 mark, closing the daily candlestick below this level. This development confirms the ongoing bearish trend in the market, suggesting a potential decline toward the next target levels of $20.80 and $20.08.
The recent formation of a double top pattern further reinforces expectations for a downward movement in sugar prices. These bearish projections will remain valid as long as prices stabilize below the critical levels of $21.55 and $22.15.
For today’s trading session, analysts anticipate a trading range between the support level of $21.00 and the resistance level at $21.70.
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