Sugar price is recovering – Analysis - 22-06-2021

Sugar price ended yesterday with strong positivity to breach 16.85 level and settle above it, which stops the recently suggested negative scenario and leads the price to resume the main bullish trend, as it cancelled the negative effect of the double top pattern and heads to achieve more expected rise, waiting to test 17.40 level initially.

Therefore, we expect to witness more bullish bias in the upcoming sessions, and breaching the targeted level will extend the bullish wave to reach 18.00 followed by 18.20 levels as next targets, while the expected rise will remain valid unless breaking 16.85 followed by 16.45 levels and holding below them.

The expected trading range for today is between 16.80 support and 17.40 resistance

The expected trend for today: Bullish