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Analysis of sugar prices reveals continued fluctuations around the EMA50, accompanied by positive indications from stochastic indicators. Forecasts suggest a potential resurgence of the bullish trend on an intraday basis, initially targeting $22.60. Should this level be surpassed, further bullish momentum could carry prices towards $23.80 as the subsequent primary target.
Sustained stability above $21.35 is deemed crucial for the anticipated continuation of the bullish trend.
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Key Support and Resistance Levels:
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– Support: $21.60
– Resistance: $22.30
Trend Forecast: Bullish
