Sugar price remains in flux, hovering at the pivotal support of 23.50 and making attempts to breach it. This action bolsters the prospects of the anticipated bearish trend that is expected to persist in the upcoming period, with its subsequent target situated at 22.75.
It’s essential to highlight that a successful breach of the aforementioned support level will trigger the adverse impact of the double top pattern, which, in turn, introduces further negative targets extending down to 21.80. The continuation of this projected bearish trajectory is contingent upon the price’s ability to remain below 24.30.
The projected trading range for today encompasses the levels of 23.00 as support and 23.80 as resistance.
The prevailing trend anticipated for today is bearish.
