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Today’s update on sugar prices reveals a scenario of downward pressure on the commodity. After encountering robust resistance at $22.60, the price experienced a downward rebound, breaching the minor support level at $22.20. With the price now settling below this level, analysts anticipate continued negative pressure in the upcoming trading sessions.
The primary target for the downward movement is identified at the $21.35 mark.
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Expected Trading Range for Today:
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- Support: $21.70
- Resistance: $22.40
Trend Forecast: Bearish
