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The sugar price remains in a state of flux around the $19.82 mark, persisting below this level and thereby affirming the continuation of a bearish trend in the foreseeable future. This trajectory is bolstered by the downward pressure exerted by the EMA50 indicator. Market analysis suggests the next significant target rests at $18.50.
Any breach of the $19.82 threshold would disrupt the anticipated downward movement, prompting efforts towards recovery with initial targets set at $20.55, followed by $21.35.
Expected Trading Range: $19.10 (Support) – $19.80 (Resistance)
Trend Forecast: Bearish
