Sugar price provided positive trades yesterday to approach the EMA50, which forms good resistance barrier against the intraday trades, waiting to push the price to decline again and head towards our expected negative target at 12.16.
In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 12.86 and holding above it.
The expected trading range for today is between 12.16 support and 12.86 resistance
The expected trend for today: Bearish