Sugar price completes the negative pattern – Analysis - 28-11-2022

Sugar price succeeded to achieve our first negative target at 19.00 and broke it to settle below it, and completed forming double top pattern that appears on the chart, which supports the chances of continuing the domination of the correctional bearish trend in the upcoming sessions, opening the way to head towards 18.70 followed by 18.40 levels as next main targets.

Therefore, the bearish trend scenario will remain suggested on the intraday basis unless the price rallied to breach 19.00 followed by 19.40 levels and hold above then.

The expected trading range for today is between 18.40 support and 19.30 resistance

The expected trend for today: Bearish