In the realm of sugar price analysis, the market witnesses a positive turn as prices breach the $19.82 resistance level, closing above it. This development signals the initiation of a bullish wave, with anticipated gains ranging from $20.50 to $21.35.
Yesterday’s trading session concluded on a positive note for sugar prices, with a decisive breach of the $19.82 level and subsequent closure above it. This pivotal movement marks the beginning of a bullish wave on an intraday basis, with momentum set to drive prices towards achieving gains ranging from $20.50 to $21.35.
Today’s outlook maintains a bullish bias, with emphasis placed on the importance of maintaining the breakout level of $19.82. Any failure to sustain above this level would halt the expected rise, potentially prompting a reversal towards a decline.
In terms of expected trading ranges, support is identified at $19.70, while resistance is positioned at $20.30. The overarching trend forecast remains bullish, aligned with the current market dynamics and expectations.
