In the latest trading session, sugar prices demonstrated further upward momentum, striving to distance themselves from the EMA50 indicator. This uptrend reinforces anticipations of a sustained intraday bullish trajectory, with the pathway now aiming towards our next milestone at $22.60.
However, current stochastic indicators hint at a temporary downturn, possibly leading to brief sideways fluctuations before the anticipated upward trajectory resumes. It’s crucial to note that this bullish outlook remains intact unless the price breaches the $21.35 mark and manages to sustain below it.
For today’s trading activities, analysts foresee a potential trading range bounded between the support level at $21.70 and resistance at $22.30.
Overall Trend Outlook: Bullish
