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Technical Analysis: ICE sugar prices fall to test support line, bullish trend awaits recovery
Economies.com's analyst's latest view today: Yesterday, ICE raw sugar prices fell slightly, testing the support line of the intraday bullish channel appearing on the chart. Affected by the negative impact of the stochastic indicator, it is waiting for the intraday bullish trend to recover as expected. Its first target is to test 19.82. Please note that breaking through this level will extend the bullish wave to 20.55, and then to 21.35. EMA50 continues to support the suggested bullish wave, as long as the price stays above 18.90, this trend will continue to be effective. The expected trading range is between the support level of 19.25 and the resistance level of 20.00.