Sugar prices are poised for continued upward movement, bolstered by recent positive trades that reinforce expectations of a sustained bullish trend in both intraday and short-term trading. Analysts anticipate targets of $20.55 and $21.35 as imminent milestones in this upward trajectory.
Key technical indicators, notably the EMA50, continue to support the bullish outlook, with validity contingent on prices maintaining stability above $19.82, and critically, above $19.40.
The anticipated trading range is expected to fluctuate between support at $20.00 and resistance at $20.80, reflecting ongoing market dynamics and investor sentiment.
This forecast underscores growing confidence in sugar’s market strength, suggesting potential opportunities for investors amid favorable trading conditions.