Sugar price surpasses the resistance – Analysis - 19-01-2022

Sugar price ended yesterday above 18.25 level, to hint heading to resume the main bullish trend, but we notice that stochastic provides negative signals that might press on the price to decline again.

Therefore, we prefer to stay aside until we get clearer signal for the next trend, noting that breaching 18.70 will confirm the continuation of the bullish bias and achieve additional gains that start at 19.16, while breaking 18.25 will press on the price to decline again and head towards 17.70 as a next negative station.

The expected trading range for today is between 18.00 support and 18.80 resistance

The expected trend for today: Neutral