Sugar price tests the resistance – Analysis - 14-04-2021

Sugar price provided additional positive trades to test the main bearish channel’s resistance, and bounced bearishly from there to resume the correctional bearish track, which keeps the bearish trend scenario active for the upcoming period, waiting to break 15.12 to reinforce the chances of rallying towards 14.60 followed by 13.95 levels.

We should note that the continuation of the bearish wave requires holding below 15.55.

The expected trading range for today is between 14.90 support and 15.55 resistance

The expected trend for today: Bearish