Sugar Price Faces Downward Pressure, Testing Key Support

Sugar price is experiencing a return to decline, putting the key support level at 26.74 to the test. This situation warrants caution in approaching upcoming trades, emphasizing the importance of the price consolidating above this level to maintain the viability of the bullish trend scenario. The primary objective of this bullish trend is set at 27.82 as the next significant station.

It’s essential to be mindful that a breach of the support level at 26.74 would disrupt the anticipated upward movement, potentially leading to a resumption of the correctional bearish trajectory.

The anticipated trading range for today ranges from the support level at 26.40 to the resistance level at 27.30.

Expected Trend for Today: Bullish