Sugar Price Records Noticeable Gains

Sugar prices exhibited a robust upward rally in recent sessions, resulting in the breach of the 26.74 level. The price is now poised to resume its primary bullish trend, with the initial target set at the previous peak of 27.82.

Consequently, the prevailing sentiment for the upcoming sessions leans towards a bullish bias, further supported by the EMA50. It is important to note that breaching the 26.74 level will stall the anticipated rise and subject the price to corrective bearish pressures.

Today’s projected trading range is anticipated to oscillate between the support at 27.00 and the resistance at 27.80, with the prevailing trend expected to be bullish.