Sugar prices concluded the previous session on a notably positive note, managing to breach the 26.80 level and secure a daily close above it. This development further reinforces the expectations of the prevailing bullish trend on both intraday and short-term horizons. The next target for the price is anticipated to be around 27.50. A successful breach of this level would pave the way for further advances towards 28.00.
The EMA50 continues to provide support for the anticipated bullish wave, which remains in play unless the price breaks below 26.20 and sustains a position beneath this level.
For today, the projected trading range is expected to be between the support at 26.60 and the resistance at 27.50.
The prevailing trend for today is indicative of a bullish bias.
Traders are advised to closely monitor price movements and consider potential entry or exit points accordingly.
