Sugar price under the negative effect – Analysis - 09-03-2021
Economies.com
2021-03-09 05:27AM UTC
Sugar price ended yesterday with clear negativity to settle at the minor bullish channel’s support line, which urges caution from the upcoming trading, as opening today with additional negativity below 16.05 will push the price to achieve more decline and visit 15.55 mainly.
On the other hand, stepping above 16.15 will reactivate the main bullish trend scenario that its main targets located at 17.00 and extend to 17.50.
Therefore, we prefer staying neutral now until we get clearer signal for the next trend.
The expected trading range for today is between 15.80 support and 16.35 resistance
The expected trend for today: Neutral
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