July sugar closed up 31 points at 21.92 cents yesterday. Prices closed near mid-range yesterday and saw short covering in a bear market. Sugar bears still have the solid overall near-term technical advantage. Bulls' next upside price breakout objective is to push and close prices above solid technical resistance at last week's high of 22.92 cents. Bears' next downside price breakout objective is to push and close prices below solid technical support at 21.00 cents. First resistance is seen at yesterday's high of 22.07 cents and then at 22.25 cents. First support is seen at yesterday's low of 21.67 cents and then at this week's low of 21.41 cents.
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