Sugar price ends yesterday negatively – Analysis - 24-02-2021
Economies.com
2021-02-24 05:26AM UTC
Sugar price provided strong negative trades by yesterday’s close, to settle at the intraday bullish channel’s support line, as the price shows temporary bearish correction for the bullish wave that started from 15.00 areas, fluctuating at 23.6% Fibonacci correction level now.
Therefore, we are waiting for bullish rebound from the current areas to resume the main bullish trend, which its next target located at 18.10, noting that breaking 16.90 will stop the expected rise and press on the price to achieve more bearish correction that its next target located at 16.55.
The expected trading range for today is between 16.70 support and 17.40 resistance
The expected trend for today: Bullish
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