The price of sugar has exceeded the $18.90 level, closing the daily candlestick above this mark. This movement signals a potential for intraday gains, with the price likely to test the $19.82 level in upcoming sessions, indicating a bullish bias for the day.
Support from the 50-day Exponential Moving Average (EMA50) further bolsters this anticipated rise. However, a breach below the $18.90 level would halt the bullish momentum, potentially causing the price to revert to the main bearish trend.
Expected Trading Range
Support: $18.90
Resistance: $19.60
Trend Forecast: Bullish