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Sugar Price Sustains Positive Momentum – Forecast for March 14, 2024

by Jennifer

The sugar price recently tested a significant support level at 21.35 and demonstrated a notable upward rebound, affirming the continuation of the bullish trend scenario for the foreseeable future. The primary target remains at 22.60, indicating a positive trajectory in the market.

The presence of a double bottom pattern further reinforces the optimistic outlook, underscoring the resilience of the bullish trend. This outlook is deemed valid unless there is a decisive breach of the support level at 21.35, accompanied by a daily close below this threshold.

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For today’s trading session, the anticipated range is expected to fluctuate between the support level of 21.40 and the resistance level of 22.40, aligning with the prevailing market dynamics.

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Trend Forecast: Bullish Sentiment

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