Sugar price succeeded to achieve our first waited target at 17.70 and broke it to close the daily candlestick below it, reinforcing the chances of extending the bearish wave to reach 17.00 as a next main station.
Therefore, we will continue to suggest the bearish trend that gets continuous support by the EMA50 conditioned by the price stability below 18.25 and the most important below 18.70.
The expected trading range for today is between 17.30 support and 18.00 resistance
The expected trend for today: Bearish