Technical Analysis and Outlook
The Sugar finished higher for the second consecutive day with the completion of Sugar Rally $0.1232 in play since flagged by Trade selector Signal on Oct 1, as the commodity consolidates much higher range journey.
The stage for transforming from bullish by completing the move is signaling down prices are likely to occur in near term, with first Mean Support resting at $0.1194, while very significant the Mean Support lies at $0.1116. On the upside, there is major Key Resistance $0.1268.
The Sugar finished higher for the second consecutive day with the completion of Sugar Rally $0.1232 in play since flagged by Trade selector Signal on Oct 1, as the commodity consolidates much higher range journey.
The stage for transforming from bullish by completing the move is signaling down prices are likely to occur in near term, with first Mean Support resting at $0.1194, while very significant the Mean Support lies at $0.1116. On the upside, there is major Key Resistance $0.1268.