Sugar prices exhibited clear positive movement during the recent trading session, distancing itself from the 22.60 level and signaling a potential resumption of the bullish wave on an intraday basis. The initial positive station is targeted at testing 23.80, with further bullish aspirations pointing towards 25.00 and 25.35 as subsequent objectives.
The stochastic indicator aligns positively, providing additional support for the expectations of a continued rise. It is crucial to note that a breach of the 22.60 level could reverse the trajectory, leading the price towards a decline with a potential target at 21.35.
For today’s expected market movements, the projected trading range is anticipated to fluctuate between the support level at 22.90 and the resistance level at 23.80. Market participants are advised to closely monitor these key levels for potential shifts in market dynamics.
In summary, the prevailing trend for today is considered bullish, driven by the positive momentum and the potential for further upside. Traders are encouraged to remain vigilant and adapt to emerging trends as the session progresses.
