Sugar Prices Show Mixed Performance, Bullish Outlook Remains Intact

Sugar prices saw a downward trend on Wednesday, approaching the critical support level of $20.08, before closing the session in positive territory. This bounce-back has bolstered expectations of a continuation of the intraday bullish trend, with price targets set at $21.10, followed by $21.55.

Positive momentum is also supported by a bullish crossover on the Stochastic indicator, suggesting further potential gains. However, this outlook will remain valid as long as the price does not break below $20.08 and settle below it on a daily closing basis.

For today, the expected trading range is between support at $20.30 and resistance at $21.10.

Related topic:

3 Things To Know Before Trading Sugar Futures

How Do Grain Futures Work?

What Are Grain Futures?