Sugar price surpasses the target – Forecast today – 28-06-2024
Sugar prices have surged past the anticipated target of $19.82, closing above this level and confirming a bullish trend. The next targets are $20.55 and $21.35. The current trading range is expected to be between $19.90 support and $20.70 resistance. The bullish momentum is likely to continue unless the price falls below $19.82, which could lead to a downward trend. Traders are advised to watch these key levels for further market direction.
Sugar price succeeded to achieve our waited target at 19.82$ and breached it strongly to settle above it, confirming opening the way to achieve more expected gains in the upcoming period, reminding you that our next targets begin at 20.55$ and extend to 21.35$.
Therefore, the bullish trend scenario will remain dominant on the intraday basis, noting that breaking 19.82$ will stop the expected rise and push the price to turn to decline.
The expected trading range for today is between 19.90$ support and 20.70$ resistance
Source Link : https://economies.com/commodities/analysis/sugar-price-surpasses-the-target-%E2%80%93-forecast-today—28-06-2024-110124
