Sugar price hits the target – Analysis - 02-10-2020

Sugar price succeeded to touch our waited target at 13.73, and it found solid resistance there to show some bearish bias, noticing that the price gets continuous positive support by the EMA50, which supports the chances of surpassing the mentioned level and open the way to achieve more expected gains in the upcoming period, waiting to visit 14.00 level as a next station.

Therefore, we will continue to suggest the bullish trend on the intraday and short term basis, noting that failing to breach 13.73 will press on the price to visit 12.86 areas before any new attempt to rise.

The expected trading range for today is between 13.30 support and 13.80 resistance

The expected trend for today: Bullish