On September 12, 2024, sugar prices demonstrated robust performance by surpassing the $19.23 resistance level, signaling a reversal of the previously observed double top pattern. This bullish movement suggests potential for further gains in the near term.
The immediate target for sugar prices is now set at $19.60, with a subsequent aim of reaching $20.04. Should the price maintain its current trajectory, it is likely to test these new levels.
For today, the prevailing trend is anticipated to remain bullish. However, if prices fall below the $19.23 mark, the upward momentum may be halted, potentially leading to a decline.
The projected trading range for today is expected to be between $19.00 (support) and $19.70 (resistance).
Trend Forecast: Bullish
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