Midday update for Sugar price 10-07-2020

Sugar price shows more bearish bias to move away from the EMA50, reinforcing the expectations of continuing the decline for the rest of the day, waiting to visit 11.45 level that represents our next main target, noting that the price forms negative pattern that has negative targets that surpass the mentioned level, while the expected decline will remain valid unless breaching 12.16 and holding with a daily close above it.

The expected trading range for today is between 11.50 support and 12.16 resistance

The expected trend for today: Bearish