Sugar price provided additional negative trades yesterday to approach our waited target at 20.08$, moving inside the bearish channel that supports the chances of surpassing the mentioned level to open the way to head towards 19.60$ as a next negative target.
Therefore, we will continue to suggest the bearish trend for the upcoming period, supported by the negative pressure formed by the EMA50, noting that the continuation of the bearish wave requires holding below 21.00$.
The expected trading range for today is between 19.80$ support and 20.70$ resistance
Trend forecast: Bearish
