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Sugar Price Makes a Strong Push Against Resistance

by Jennifer

Sugar prices have made a strong upward move, breaching the 26.74 level and settling above it. This indicates an attempt to reestablish the primary bullish trend. However, it’s advisable to remain on the sidelines until the price confirms its position concerning this level and the subsequent direction.

It’s important to note that maintaining a position above 26.74 will likely drive the price to achieve new gains, reaching the 27.82 level. Conversely, if the price trades below this level, it may revert to a corrective bearish trajectory with an initial target at 26.08.

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For today, the anticipated trading range is expected to fall between the support at 26.50 and the resistance at 27.40, rendering the overall trend for the day as neutral.

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