Sugar price approaches the target – Analysis - 08-12-2022

Sugar price traded with clear negativity yesterday to approach our first waited target at 18.70, and ended trades positively near 19.00, waiting to get new negative motive that assists to push the price to resume the bearish bias to break the first level and head towards 18.40 as a next main target.

Until now, the bearish trend scenario will remain suggested for the upcoming period unless the price rallied to breach 19.00 followed by 19.40 levels and holding above them.

The expected trading range for today is between 18.40 support and 19.20 resistance

The expected trend for today: Bearish