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In the analysis of sugar prices, it is observed that the commodity resumes its downward trajectory, distancing itself from the $19.82 level. This development reinforces expectations for the continuation of the bearish trend on an intraday basis. It’s worth noting that anticipated targets begin at $19.00, followed by $18.00.
The negative pressure exerted by the EMA50 continues to weigh on the price, supporting the envisaged bearish movement. Maintaining levels below $19.82 is deemed crucial to achieving the awaited targets.
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For today’s trading range, expectations lie between support at $18.70 and resistance at $19.50.
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Trend Forecast: Bearish
