Sugar price provided positive trades yesterday to approach the EMA50, waiting for more rise to test the bearish channel’s resistance line around 21.30$, and it might extend to visit 21.55$ before turning back to resume the main bearish trend again.
Therefore, the intraday bearish trend will remain suggested for the upcoming period, noting that breaking 20.08$ will stop the bullish trend and push the price to decline again.
The expected trading range for today is between 20.40$ support and 21.10$ resistance
Trend forecast: Bullish
