The price of sugar has recently undergone a test of the critical support level at 26.74 and successfully maintained its position above this level. This resilience is bolstering the scenario of a continued bullish trend in the foreseeable future, with additional support coming from the EMA50. The next primary target for the price is projected to be at 27.82.
It is vital for the price to remain above the 26.74 support, as this serves as a pivotal condition for the expected uptrend to persist. However, a breach of this support level could trigger a return to the corrective bearish trajectory.
In terms of today’s expected trading range, it spans between the support level of 26.80 and the resistance level of 27.50.
Anticipated Market Trend: Bullish
