The price of sugar is currently displaying a bearish bias as it tests a significant support level at 26.74. However, there are notable positive signals observed through the stochastic indicator, which may serve as a catalyst for the price to resume its primary bullish trend, with the next target set at 27.82.
Sustaining a position above 26.74 is crucial to maintain the anticipated upward movement. A break below this level would be considered a negative factor, potentially leading to a return to the corrective bearish trajectory.
For today’s trading session, market analysis suggests a trading range between the support level of 26.60 and the resistance level of 27.40.
Overall, the expected trend for today remains bullish, reflecting a positive sentiment surrounding the price of sugar.
