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Sugar Price Registers Temporary Advances

by Jennifer

Sugar price exhibited distinct upward movement in the previous trading session, reaching the pivotal resistance level at 24.30. Notably, the price has maintained its position below this critical threshold, upholding the validity of the bearish trend outlook. The focus remains on the impending retest of 23.50, with a reminder that a successful breach of this level would propel the price toward the subsequent bearish target situated at 22.75.

Conversely, it is important to acknowledge that surpassing the resistance level at 24.30 would disrupt the anticipated decline, potentially prompting the price to endeavor to reclaim the dominant bullish trajectory.

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The anticipated scope of trading activities for the present day is projected to span between the support at 23.60 and the resistance at 24.40.

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Projected trend for today: Bearish

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