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Sugar prices concluded yesterday with significant negativity, breaking below the $19.82 level and closing the daily candlestick below it. This action halts the previously suggested positive scenario and indicates a shift to a decline, targeting initial negative levels starting at $19.32 and extending to $18.75.
As such, a bearish bias is anticipated for the upcoming sessions unless the price manages to breach the $19.82 followed by $19.94 levels and holds above them.
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Today’s expected trading range is between the support level of $19.20 and the resistance level of $19.90.
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Trend forecast: Bearish
