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Sugar prices have come under additional negative pressure, breaking below the $19.25 level and settling beneath it. This move has completed a double top pattern, indicating negative targets that could reach the $18.00 area.
As a result, a bearish bias is expected in the upcoming sessions. However, if sugar prices breach the $19.25 level, it will halt the current negative pressure and may initiate recovery attempts, with initial targets at $19.82.
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The expected trading range for today is between the support level of $18.60 and the resistance level of $19.40.
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Trend Forecast: Bearish
