Sugar prices have exhibited a noticeable surge in recent sessions, propelling them to the 26.74 level. This development signifies a revival of the primary bullish trajectory, with an impending confirmation of this resurgence contingent on a breach of the aforementioned level. Should this be achieved, it will serve as confirmation for an upward trajectory, with the next positive targets marked at 27.30 and 27.80.
The forthcoming sessions are likely to maintain a bullish bias, supported by the price’s positioning above the EMA50. However, it is important to note that a failure to surpass the 26.74 level could introduce negative pressure, potentially leading to a test of the 26.08 level before any renewed attempts at upward movement.
The projected trading range for the day is expected to be bound between the support level at 26.40 and the resistance level at 27.20.
Today’s prevailing trend is anticipated to be bullish, with prospects of continued upward momentum.
