Sugar Price Faces Rebound After Continued Decline, Targeting $21.00

Sugar prices have continued their decline, nearing the anticipated target of $20.08. However, recent market behavior suggests a potential bullish reversal, with prices starting to rebound, signaling the possibility of a bullish wave on an intraday basis. This shift is supported by positive stochastic indicators, suggesting a move towards the $21.35–$21.55 range.

A bullish outlook is expected for today, unless prices fall below $20.08 and maintain a daily close under that level.

The expected trading range for today is between $20.25 on the support side and $21.00 as resistance.

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