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Sugar prices have shown more positive trades, reinforcing expectations of a continued bullish trend in the intraday and short-term markets. The next main targets are set at $20.55, followed by $21.35.
The 50-day Exponential Moving Average (EMA50) continues to support this bullish wave. This trend is expected to remain valid as long as sugar prices stay above $19.82, and more crucially, above $19.40.
Expected Trading Range
The anticipated trading range for sugar prices is between $20.00 support and $20.80 resistance.
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Sugar Prices Show Strong Gains, Eyeing Further Upside
Global Sugar Market Dynamics: Prices Retreat on Brazilian Production Surge