Sugar price concluded the previous session on a positive note, surging to test the critical resistance at 26.74. The EMA50 reinforces the significance of this level, adding further strength. Despite this temporary upward movement, the market is poised to resume the correctional bearish wave, targeting 26.08 as the next crucial station.
The bearish trend scenario remains valid, contingent on the price’s ability to stay below the resistance level at 26.74. Monitoring this level closely will provide insights into potential market dynamics.
For today’s trading, the anticipated range is between the support at 26.20 and the resistance at 26.85. Traders are advised to exercise caution and stay attuned to these levels for potential developments in the ongoing bearish trend.
Expected Trend for Today: Bearish
