Sugar price faces solid resistance – Forecast today - 28-03-2024
Economies.com
2024-03-28 03:09AM UTC
Sugar Price Analysis
Bullish Scenario
- Sugar price finds difficulty to surpass the neckline of the double bottom pattern.
- EMA50 forms good support to stop the decline and support the chances of resuming positive trades.
- Waiting to surpass 22.20$ to activate the positive effect and rally towards positive targets.
Positive Targets
Positive targets start at 22.60$ and extend to 23.80$.
Bearish Scenario
Continued bullish trend conditioned by the price stability above 21.35$.
Trading Range
The expected trading range for today is between 21.80$ support and 22.50$ resistance.
Trend forecast: Bullish
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