Sugar prices have established stability above the 22.60 level, reinforcing the validity of the bullish trend scenario for the upcoming period. The market is anticipated to target the next positive station at 23.80.
The supportive role played by the EMA50 further strengthens the suggested bullish wave, which will continue to be deemed valid unless a breach of the 22.60 level occurs, coupled with a daily close below it.
Today’s expected trading range is projected to fluctuate between the support level at 22.60 and the resistance at 23.40. These levels are crucial for traders, offering insights into potential price movements.
In summary, the trend for today remains bullish in sugar prices, supported by the stable position above 22.60 and the continued assistance from the EMA50. Traders are advised to closely monitor the mentioned levels for a more nuanced understanding of potential market shifts.
