Sugar price touches the first target – Analysis – 17-07-2023
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Photo By Economies.com
Sugar price managed to achieve our first target at 24.30 and settles there, waiting to resume the positive trades to achieve additional gains that reach 25.25, affected by the double bottom pattern that appears on the chart.
Therefore, the bullish trend will remain valid and active on the intraday basis, supported by the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave depends on the price stability above 23.50.
The expected trading range for today is between 24.00 support and 24.70 resistance
The expected trend for today: Bullish
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