Sugar prices have been hovering around the 26.80 level, awaiting a surge of positive momentum that could propel the price to resume its anticipated bullish trajectory in the coming period. The primary targets for this upward movement are set at 27.50, followed by 28.00 levels as the next significant milestones.
As of now, the bullish trend scenario remains in play, contingent on the price holding above the 26.20 level. It’s worth noting that the EMA50 continues to provide underlying support from below, further reinforcing the likelihood of a sustained bullish trend.
For today’s trading outlook, market experts anticipate a trading range between the support level at 26.60 and the resistance level at 27.30.
The prevailing trend for today remains bullish, with traders and investors closely monitoring the potential for positive momentum to drive sugar prices toward their upward targets.
