Sugar price provided new negative trades yesterday to test the intraday bullish channel’s support line, but it bounced bullishly to settle around 17.50, which keeps the chances valid to continue the expected bullish trend for the upcoming period, which gets good support by the EMA50 and stochastic, waiting to head towards 18.00 as a next target.
Note that breaking 17.20 will stop the expected rise and press on the price to start bearish correction before resuming the bullish track again.
The expected trading range for today is between 17.30 support and 18.00 resistance
The expected trend for today: Overall Bullish