Sugar price has successfully reached our initial awaited extended target at 26.00. However, recent developments saw the price concluding yesterday’s session with a noticeable decline, bringing it close to a crucial support level at 25.25. It remains imperative for the price to maintain its consolidation above this support level in order to sustain the ongoing bullish trend scenario for the upcoming period, with the subsequent target anticipated around the 26.80 region.
Consequently, our projection continues to favor a bullish trend in the forthcoming period, contingent on the price’s ability to sustain stability above the 25.25 level.
The projected trading range for the current day is estimated to lie between the support at 25.20 and the resistance at 26.20, with the prevailing trend maintaining a bullish trajectory.
