Sugar price has successfully validated its breach below the crucial level of 21.35, confirmed by the daily candlestick closing beneath this significant threshold. This affirmation fortifies the ongoing bearish trend expectations for both intraday and short-term perspectives. The path is now open for the price to proceed towards new downside targets, initiating at 20.45 and extending further to 19.82.
Sustaining levels below 21.35 holds paramount significance for the continuation of the anticipated descent. Conversely, breaching this level would be an initial indication of potential recovery attempts, targeting the 22.60 regions before any renewed downside endeavors.
The expected trading range for today is projected between support at 20.50 and resistance at 21.30.
Expected Trend for Today: Bearish
