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The sugar price is currently hovering around the $19.50 level, with stochastic indicators showing a clear loss of positive momentum. This suggests a potential resumption of the expected bearish trend in both the intraday and short-term perspectives. The primary targets for this downward movement are $18.50 followed by $17.35 levels.
Overall, the bearish trend is expected to persist in the upcoming period, contingent upon the price remaining below the $19.82 mark.
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Expected Trading Range: $19.00 (Support) – $19.75 (Resistance)
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Trend Forecast: Bearish
