Commodities

Sugar price hits the first target – Analysis - 12-05-2021

2021-05-12 00:04:33 GMT (Economies.com)

Sugar price succeeded to achieve our first waited target at 18.00 and settles above it, to support the chances of continuing the main bullish trend, which its next targets extend to reach 18.87.

 

The EMA50 keeps supporting the suggested bullish wave, noting that it is important to hold above 17.40 to achieve the waited targets.

 

The expected trading range for today is between 17.90 support and 18.50 resistance

 

The expected trend for today: Bullish

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