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Sugar prices have moved back above the $21.55 level, setting the stage for a potential bullish wave in the short term. The next key targets on the upside are $22.10, followed by $22.73.
Given this momentum, a bullish bias is anticipated for today. However, if the price falls back below $21.55 and fails to hold above it, the positive outlook would be invalidated, potentially leading to a shift toward negative pressure, with $21.00 as the initial support target.
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For today’s trading, the expected range is between $21.50 support and $22.30 resistance.
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Trend Outlook: Bullish
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