Sugar price approaches the target – Analysis - 16-04-2021

Sugar price rallied upward strongly to approach our waited target at 16.55, getting positive support by the EMA50, which support the chances of surpassing this level and open the way to achieve more expected gains on the intraday and short term basis, as our next target extends to 17.30.

Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 15.60 and holding below it.

The expected trading range for today is between 16.00 support and 16.60 resistance

The expected trend for today: Bullish