Sugar price has maintained its upward trajectory, once again demonstrating its capacity to attain positive objectives. In the most recent surge, the price surpassed the awaited target at 25.25 and gravitated towards the subsequent milestone of 26.00. This compelling surge leads us to endorse the persisting bullish inclination, with the prospect of transcending this level to propel the price towards the previous pinnacle marked at 26.80.
As such, the enduring bullish trend retains its active status in the realm of intraday and short-term outlooks. It is noteworthy, however, that intermittent bouts of sideways oscillation might emerge, influenced by transient stochastic negativity. It is of utmost importance for the price to maintain its position above 25.25 to sustain the anticipated upward trajectory.
Today’s projected trading bandwidth is envisaged to extend from the support level at 25.50 to the resistance level at 26.30.
The projected trend for today persists as bullish.
