Sugar price attacks the resistance – Analysis – 16-10-2023
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Sugar price returned to rise strongly to breach 26.74 and settles above it, to hint the attempt to regain the main bullish trend again, but we prefer to stay aside until the price confirms its situation according to this level followed by confirming the next destination.
Note that holding above 26.74 will lead the price to achieve new gains that reach 27.82, while trading below it again will push the price back to the correctional bearish track that targets testing 26.08 level initially.
The expected trading range for today is between 26.50 support and 27.40 resistance
The expected trend for today: Neutral
