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Sugar price has been fluctuating around the EMA50, with recent observations indicating a higher low, suggesting a continuation of the bullish bias in forthcoming sessions. The market anticipates a potential test of $22.60 as the initial target, with a possibility of further advancement towards $23.80 in the near term upon breaching the former level.
Consequently, the bullish trend scenario is anticipated to persist and remain active on an intraday basis, contingent upon price stability above $21.35.
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For today’s trading, the projected range is expected to span between support at $21.50 and resistance at $22.20.
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Trend Forecast: Bullish
