Sugar price continues to decline – Analysis - 07-01-2022

Sugar price resumes its negative trades to move away from 18.25 level, reinforcing the expectations of continuing the bearish trend, which targets 17.70 level as a next negative station.

The EMA50 supports the suggested bearish wave, which its targets extend to 17.00 followed by 16.80 after surpassing the previous level, reminding you that it is important to hold below 18.25 and 18.70 levels to achieve the suggested targets.

The expected trading range for today is between 17.60 support and 18.25 resistance

The expected trend for today: Bearish