Sugar prices ended yesterday on a positive note, approaching the significant resistance level of $22.73. Traders are advised to exercise caution in upcoming sessions, as the price must maintain consolidation below this level to keep the bearish outlook active, with an initial target of $21.55.
It’s important to highlight that a breach above $22.73 would halt the anticipated decline and trigger the formation of a new bullish wave, potentially leading to a target of $23.91.
Today’s expected trading range is between $22.00 (support) and $22.90 (resistance).
Trend Outlook: Bearish
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