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The sugar price concluded yesterday’s trading session on a notably positive note, marking the completion of a double top pattern. This pattern, discernible on the charts, lends credence to the continuation of the anticipated bullish trend in the forthcoming period. Currently, the price is nearing our awaited target at $22.60, with the potential for a breakout to propel it towards $23.80 as the subsequent positive station.
As a result, the scenario favoring a bullish trend remains valid and active for the intraday period, barring a decisive break below $21.35 and sustained trading below this level.
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Today’s anticipated trading range is expected to fluctuate between support at $21.90 and resistance at $22.60.
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Trend Forecast: Bullish
