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Sugar prices closed on a positive note yesterday, surpassing the $21.55 level and securing a daily candlestick above it. This breakthrough signals the potential for a bullish momentum in the short term, with prices expected to rise toward $22.00, and possibly extend up to $22.73.
The outlook remains bullish for today, though a failure to maintain a position above $21.55 could lead to a price decline, possibly reversing into the bearish channel observed on the chart.
For today, the anticipated trading range is expected to fluctuate between $21.30 as support and $22.20 as resistance.
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