2
Sugar prices showed positive movement yesterday, approaching the EMA50 and setting the stage for further upward momentum. The price is expected to test the resistance of the bearish channel around $21.30, with a potential extension towards $21.55 before resuming the primary bearish trend.
While the short-term trend remains bearish, the intraday bullish movement is anticipated in the near term. However, a break below $20.08 would invalidate the current bullish attempt, potentially leading to a return to the downside.
Advertisements
The expected trading range for today is between $20.40 (support) and $21.10 (resistance).
Advertisements
Trend Forecast: Bullish
You Might Be Interested In：
