Sugar Price Analysis Expected Scenario Sugar price bounced downwards strongly on last Friday to approach our awaited target at 21.35$, with the potential for further decline and breaking this level to achieve more negative targets on the longer-term basis. Therefore, we will continue to suggest the bearish trend for the upcoming period. However, consolidation of the 21.35$ level against the current negative pressure could lead to recovery attempts targeting 22.20$ followed by 22.60$ areas mainly. Expected Outcome Sugar price bounced strongly downwards on last Friday towards the awaited target at 21.35$. Further decline and breaking below this level are anticipated for more negative targets on the longer-term basis. However, consolidation at 21.35$ against the current negative pressure may lead to recovery attempts targeting 22.20$ followed by 22.60$ areas mainly.

Expected Trading Range Between 21.30$ support and 22.00$ resistance.

Trend Forecast: Bearish