The recent market activity in sugar prices ended on a negative note, with the closing of the daily candlestick below the critical level of 26.74. This development indicates a potential downward pressure on prices in the upcoming trading sessions. The market is expected to target key levels, specifically 26.40, followed by 26.08.
The stochastic indicator is providing negative signals, further supporting the anticipated decline. This bearish outlook will remain valid unless the price manages to breach the level of 26.74 and sustain trading above it.
The projected trading range for the current session is anticipated to fluctuate between the support level at 26.20 and the resistance level at 27.00. The overall trend expectation for today is bearish. Traders are advised to closely monitor price movements, paying attention to the specified support and resistance levels to inform their decision-making processes.
