Sugar (SUGAR/USD) Daily Chart Analysis 10/18
Technical Analysis and Outlook
Sugar closed at $1281 on Wednesday busting though Key Resistance $1268. Prices are closing nearer the Sugar Rally $1327 each trading day. Profit taking may pull down the soft commodity to Mean Support $1236 following striking a four-month high $1302 today. The bulls hold the over-all near-term technical edge, since the prices are in a steep uptrend, as awaiting Sugar Rally $1327 will be struck any day.
Sugar closed at $1281 on Wednesday busting though Key Resistance $1268. Prices are closing nearer the Sugar Rally $1327 each trading day. Profit taking may pull down the soft commodity to Mean Support $1236 following striking a four-month high $1302 today. The bulls hold the over-all near-term technical edge, since the prices are in a steep uptrend, as awaiting Sugar Rally $1327 will be struck any day.