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Sugar price analysis indicates that despite recording positive trades yesterday and testing the key resistance level at $19.82, the price remains below this threshold at present. This sustains the active bearish trend scenario for the upcoming period, with initial downside targets set at $19.00 followed by $18.50.
Stochastic indicators signal a loss of positive momentum, aligning with expectations for a decline in the price of sugar. It is imperative to observe the price’s ability to hold below $19.82 to achieve the suggested downward targets.
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Expected Trading Range:
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- Support: $19.20
- Resistance: $20.00
Trend Forecast: Bearish
