Sugar price has successfully breached the resistance of the falling wedge pattern, activating a positive trajectory as it rallies bullishly, reaffirming expectations for a continued rise in both the intraday and short-term contexts. It is pertinent to note that the next significant target stands at 27.82.
The Stochastic indicator is signaling positively, further bolstering anticipations for an upward movement. It remains crucial for the price to maintain levels above 24.74 to realize the awaited targets.
For today’s trading dynamics, the anticipated range oscillates between the support level at 26.80 and the resistance level at 27.70.
The prevailing trend for today leans towards a bullish sentiment, contingent on the price holding above the critical level of 24.74. Traders are advised to monitor these key levels for potential market developments.
