Sugar prices encountered negative pressure in recent sessions, testing the crucial support level at $19.60. This development necessitates caution in the upcoming trades, as a breach of this level could halt the previously anticipated bullish trend and potentially lead to a decline.
For the bullish scenario to remain valid, sugar prices need to gain positive momentum and rise above $20.04. Successfully surpassing this level would pave the way for a rally towards the next significant target at $20.76.
Today’s expected trading range for sugar is between $19.35 (support) and $20.10 (resistance).
Trend Forecast: Bullish
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