Sugar price breaks the support – Analysis - 18-02-2020

Sugar price broke the bullish channel’s support line and settled below it, to start bearish correction for the rise measured from 11.55 to 15.32, which its targets begin at 14.43 and extend to 13.88 after breaking the previous level.

Therefore, the bearish bias will be expected for today, taking into consideration that breaching 14.75 will stop the expected decline and brings the price back to the bullish track.

The expected trading range for today is between 14.40 support and 14.75 resistance

The expected trend for today: Bearish