Sugar Price Resumes Downward Movement, Testing Key Support Levels

Sugar prices have experienced a significant downward bounce after reaching the 25.54 level in recent sessions. The decline extended beyond the 25.00 mark, reaching 24.34 once again. The current suggestion is for a continuation of the bearish trend, with potential further declines towards 24.00 and subsequently 23.26.

To validate the bearish scenario, it is essential for the price to successfully surpass the 24.34 level. Any reversal that pushes the price above 25.54 and maintains a position above it would challenge the bearish trend.

For today, the projected trading range is anticipated to be between the support at 24.00 and the resistance at 24.90.

Expected Trend for Today: Bearish