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Sugar price resumes the decline – Analysis - 12-03-2020
12.44 level could not hold against the continuous negative pressure formed by Sugar price, to break this level and settles below it, which presses on the price to resume the bearish trend on the short term basis, paving the way to head towards 11.55 as a next main station.
Therefore, we suggest witnessing more decline in the upcoming sessions, noting that breaching 12.44 will push the price to start new recovery attempts.
The expected trading range for today is between 12.00 support and 12.40 resistance
The expected trend for today: Bearish
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