The price of sugar has established stability below the previously broken support of the bearish flag, affirming the continuation of the negative impact associated with this pattern. The market is poised to move towards the next target at 19.82, with a subsequent potential decline to 19.00.
The prevailing bearish trend scenario remains valid and active, with a reminder that a breach of the resistance at 21.35 is necessary to instigate a potential recovery. Such a breakout could lead the price to regain strength and pursue gains, starting with a test of the 22.60 areas.
The expected trading range for today is projected to fluctuate between the support level at 20.30 and the resistance level at 20.20.
In summary, the current trend for today leans towards the bearish side, as sugar prices exhibit stability below the broken support, reinforcing the negative outlook for the commodity.
