Sugar price tests the key resistance – Analysis - 01-12-2022

Sugar price traded with clear positivity yesterday to test the most importance resistance at 19.40, noticing that the price bounced bearishly from there to settle below the neckline of the double top pattern that appears on the chart, which keeps the bearish trend scenario valid and active for the upcoming period, and the price needs to break 19.00 to confirm heading towards 18.70 followed by 18.40 levels as next negative targets.

Therefore, the bearish trend scenario will remain active unless breaching 19.40 and holding above it

The expected trading range for today is between 18.60 support and 19.40 resistance

The expected trend for today: Bearish