Advertisements

Sugar Prices Display Positive Attempts – Market Analysis – February 27, 2024

by Jennifer

Sugar prices exhibited evident positive momentum in recent trading sessions, nearing the 22.60 level. However, it is noteworthy that the EMA50 is proving to be a formidable resistance, acting as a barrier against further upward movement and safeguarding the anticipated negative scenario for the intraday basis. This emphasizes the persistence of the bearish trend, with the next target positioned at 21.35.

Conversely, a breach of the resistance level at 22.60 would disrupt the negative scenario, paving the way for a potential recovery and the accomplishment of positive targets, reaching 23.82 in the near term.

Advertisements

Today’s Expected Trading Range: 21.60 (Support) – 22.40 (Resistance)

Advertisements

The current analysis supports a bearish trend for sugar prices, underscoring the importance of monitoring the support level at 21.60 and the resistance level at 22.40 during today’s trading activities.

You May Also Like

blank

Bnher is a comprehensive futures portal. The main columns include futures market, futures exchanges, futures varieties, futures basic knowledge and other columns.

[Contact us: [email protected]]

© 2023 Copyright  bedgut.com – Futures Market, Investment, Trading & News