Sugar price retests – Analysis - 15-01-2020

Sugar price provided clear negative trades yesterday to retest the breached resistance of the bullish channel that appears on the chart, as the price kept its stability above this level that turns into key support at 14.14 and resumed its positive trading, to keep the bullish trend scenario valid for the upcoming period, which its next main target located at 15.00.

Therefore, we are waiting for more rise on the intraday and short term basis conditioned by the price stability above 14.14.

The expected trading range for today is between 14.14 support and 14.45 resistance

The expected trend for today: Bullish