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Sugar prices exhibited a brief positive movement in recent trading sessions but have reverted to fluctuating below the critical barrier at 21.00. This pattern maintains the prevailing bearish trend on both intraday and short-term perspectives, further reinforced by the downward pressure exerted by the EMA50 (Exponential Moving Average 50). The anticipated target for this bearish trend remains at 19.82.
It is essential to note that a breakthrough above the resistance level at 21.35 would disrupt the projected decline, potentially initiating an upward turn in prices.
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The expected trading range for today is forecasted between the support level at 20.30 and the resistance level at 21.00.
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Projected Trend for Today: Bearish
