71
Sugar prices are currently trading negatively, testing the critical support level at $19.25. Despite this, the price has managed to consolidate above this support, maintaining the potential for a continuation of the anticipated bullish trend on an intraday basis. Initial targets for this bullish outlook include breaking through $19.82 to pave the way towards $20.35 and potentially up to $20.80.
It is crucial to monitor the price action around the $19.20 level, as a break below this support could negate the expected upward movement and shift sentiment towards a decline.
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Today’s expected trading range spans from support at $19.15 to resistance at $19.90.
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Trend Forecast: Bullish
