Sugar price completes positive pattern – Forecast today - 27-03-2024

Sugar Price Analysis

Sugar price ended yesterday with clear positivity, completing the formation of a double top pattern. Signs of this pattern appear on the chart, supporting the continuation of the expected bullish trend for the upcoming period. The price is approaching our awaited target at 22.60$, with a potential breach pushing the price towards 23.80$ as the next positive station.

Therefore, the bullish trend scenario will remain valid and active on the intraday basis unless breaking 21.35$ and holding below it.

The expected trading range for today is between 21.90$ support and 22.60$ resistance.

Trend forecast: Bullish