3
Sugar prices are showing clear negative movement, distancing from the resistance line of the bearish channel and reinforcing the expectation of continued decline on both the intraday and short-term basis. The primary target for this bearish trend remains at $20.08.
The EMA50 continues to support the negative outlook, although a breach of $21.55 would halt the bearish momentum and potentially reverse the trend to the upside.
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The expected trading range for today is between $20.00 (support) and $20.80 (resistance).
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Trend Forecast: Bearish
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