Sugar prices experienced a notable decline in trading activity, surpassing the anticipated target of $19.00, indicating a trajectory towards further negative outcomes. The downward trend is anticipated to persist, with the next potential target set at $18.00.
The bearish sentiment is reinforced by the prevailing downward pressure exerted by the EMA50 indicator. However, it is noteworthy that a breach of $19.82 could signal a reversal of the anticipated decline, potentially prompting a shift towards an upward trajectory.
In terms of expected trading ranges, the support level is identified at $18.00, while resistance is anticipated at $18.90.
With these indicators in mind, the overall trend forecast remains bearish, suggesting a continued downward trajectory for sugar prices in the upcoming period.