Sugar price achieves strong gains – Analysis - 27-01-2023

Sugar price rallied upwards strongly yesterday to surpass 19.40 level and confirm the continuation of the bullish trend domination on the longer term basis, opening the way to visit 20.00 areas as a next positive station, as it completed forming double bottom pattern that its signs appear on the chart.

Therefore, we are waiting for more expected rise in the upcoming sessions, noting that breaking 19.40 followed by 19.20 levels will stop the positive scenario and press on the price to turn to decline.

The expected trading range for today is between 19.30 support and 20.10 resistance

The expected trend for today: Bullish