Advertisements

Sugar Price Analysis: Bullish Trend Expected

by Daisy

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.

Advertisements

Expected Trading Range

Support: $18.90

Advertisements

Resistance: $19.60

Trend Forecast: Bullish

You May Also Like

blank

Futuresstocktrading.com is a comprehensive futures information portal. Whether you’re a novice or seasoned trader, find futures news, futures market, futures trading tips, and futures basic knowledge to enhance your trading prowess and financial success.

[Contact us: [email protected]]

© 2023 Copyright  Futuresstocktrading.com – Futures Market, Investment, Trading & News