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Sugar prices have recently tested a crucial support level at 26.74 and have managed to maintain stability above it. This has paved the way for a resumption of the primary bullish trend, with the initial targets set at 27.82. Further gains could extend towards 28.50 following a successful breach of the aforementioned level.
The positive signals provided by the Stochastic indicator support the continuation of the anticipated upward movement. However, it’s essential for this bullish outlook to remain valid that sugar prices stay above the 26.74 support level.
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The expected trading range for today is likely to fluctuate between the support at 26.80 and resistance at 27.70.
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Today’s expected trend: Bullish
