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Sugar price declines again – Forecast today - 13-08-2024
Sugar price returned to decline after testing the resistance line that appears on the chart, motivated by stochastic negativity, waiting for more decline in the upcoming sessions, targeting testing 17.96$ initially, noting that breaking this level will push the price towards 17.35$ direct.
Holding below 18.95$ is important to the continuation of the expected decline, as breaching it will push the price to recover and achieve positive targets that reach 20.27$.
The expected trading range for today is between 18.00$ support and 18.80$ resistance
Trend forecast: Bearish
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