Sugar price ended last Friday at the bullish channel’s support line, and the price needs to consolidate above this level to keep the bullish trend scenario active for the upcoming period, which targets 16.00 followed by 16.63 levels as next positive stations.
We should note that breaking 51.20 and holding below it will stop the expected rise and press on the price to start correctional bearish wave on the intraday basis.
The expected trading range for today is between 15.00 support and 15.50 resistance
The expected trend for today: Bullish