Sugar prices are anticipated to resume their upward trajectory, potentially surpassing the $18.90 mark and aiming for new highs, notably nearing $19.80 in intraday trading sessions. Technical indicators are lending robust support to this bullish outlook, emphasizing the likelihood of sustained upward momentum, contingent upon prices maintaining stability above the critical $18.90 threshold.
Projected Trading Range
Market analysts foresee a trading range bounded by a support level of $18.70 and a resistance level at $19.50.
Trend Outlook: Bullish
This analysis underscores a prevailing bullish trend in the sugar market, reflecting optimism for further price appreciation in the near term.