Sugar price managed to achieve our waited target at 17.70 and presses negatively on it, noticing that the price moves within bearish channel that supports the chances of continuing the decline in the upcoming period, on its way to achieve new negative targets that reach 17.00 followed by 16.30.
Therefore, the bearish bias will remain dominant on the intraday and short term basis, noting that breaching 18.00 will push the price to test 18.50 areas before any new attempt to decline.
The expected trading range for today is between 17.40 support and 18.20 resistance
The expected trend for today: Bearish