Sugar price builds support base – Analysis - 07-05-2021
Economies.com
2021-05-07 00:12AM UTC
Sugar price ended yesterday above 17.50 level, which supports the expectations of continuing the bullish trend on the short term and medium term basis, waiting to achieve new gains that reach 18.00.
The bullish channel organizes the suggested bullish wave, which gets good support by the EMA50, noting that breaking 17.50 might press on the price to test 17.00 areas before any new attempt to rise.
The expected trading range for today is between 17.35 support and 18.00 resistance
The expected trend for today: Bullish
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