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Sugar price hits the new target – Analysis - 25-01-2024
Sugar price rallied upwards strongly yesterday to succeed achieving our waited target at 23.80, and we suggest the continuation of the bullish bias in the upcoming sessions to surpass this level and open the way to achieve additional gains that reach 24.85 followed by 25.35.
The EMA50 supports the suggested bullish wave, taking into consideration that failing to breach 23.80 will push the price to rebound bearishly and head to test 22.60 areas before any new attempt to rise.
The expected trading range for today is between 23.40 support and 24.20 resistance
The expected trend for today: Bullish
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