Sugar prices recently tested the 26.80 level and demonstrated a clear bounce to the upside, reaffirming the anticipated bullish trend on both the intraday and short-term horizons. The next focal point for this upward movement is situated around the 28.00 level.
Technical indicators are generating positive signals that align with the continuation of the expected bullish trend. This outlook will remain valid as long as the price maintains levels above 26.80, with additional support at 26.20.
For today’s trading activities, traders should anticipate a trading range between the support at 27.00 and the resistance at 27.80.
In summary, sugar prices have regained upward momentum and are poised for further gains. Traders are advised to monitor price movements closely and consider the noted support and resistance levels when making trading decisions.
