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Sugar price has recently tested the 26.74 level and maintained its position above it. This price action supports the continuation of the intraday bullish scenario. Stochastic indicators have reached oversold areas, further reinforcing the positive outlook, with an anticipated move towards the main target at 27.82.
The presence of the EMA50 provides additional support to the suggested bullish wave. To validate this scenario, the price should avoid dropping below 26.74 and sustain trading above this level.
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For today’s trading, the expected range stretches between the support at 26.70 and the resistance at 27.80, with the prevailing trend remaining bullish. Traders are advised to act in line with this outlook.
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