Sugar price breaks the support – Analysis - 06-01-2022
Economies.com
2022-01-06 05:14AM UTC
Sugar price ended yesterday negatively and settled below 18.25, to activate the bearish trend scenario on the intraday basis, opening the way to head towards 17.70 as a next negative target.
Therefore, the bearish bias will be suggested for the upcoming sessions supported by the negative pressure formed by the EMA50, noting that breaching 18.25 followed by 18.70 levels will stop the expected decline and lead the price to start new recovery attempts.
The expected trading range for today is between 17.80 support and 18.40 resistance
The expected trend for today: Bearish
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