Midday update for Sugar price 22-05-2020
Economies.com
2020-05-22 09:05AM UTC
Sugar price shows more decline to approach retesting the breached neckline of the inverted head and shoulders’ pattern, noting that the EMA50 forms positive support to the price, waiting to push the price to resume the correctional bullish trend that targets 11.45 as a next station, noting that breaking 10.60 and holding below it will stop the positive scenario and press on the price to resume the main bearish trend.
The expected trading range for today is between 10.60 support and 11.45 resistance
The expected trend for today: Bullish
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