Sugar prices have seen a continued decline, recently testing the critical $19.82 level. However, in a bullish turn of events, the price rebounded positively yesterday, reinforcing the ongoing bullish trend scenario. This trend remains active and well-supported within the established bullish channel visible on the charts. Analysts are targeting the next significant level at $21.35.
Technical indicators are also painting a positive picture, providing further support for potential price increases. This bullish outlook holds as long as the price remains above the key support level of $19.82. The expected trading range is anticipated between $19.80 as support and $20.80 as resistance.
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