After three days of declines, the ICE Sugar future is up 18 cents today

After closing the previous trading day at $23.46, the ICE Sugar future is up to $23.64 per pound, which makes for a move of 0.77%/18 cents today.

Meanwhile, United States NY Empire State Manufacturing Index (Apr) released today at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.

Investors are seeking long positions as Sugar price action surged above +100 — a key CCI threshold indicating an imminent bullish trend.

Overall, looking at the technical analysis landscape, it seems the ICE Sugar future might continue pointing upwards in the short term.

This rally in Sugar's price coincides with other Softs as Coffee gained 2.64% and is now trading at $196.55.

Elsewhere, United States Building Permits (Mar) scheduled to come out tomorrow at 12:30 UTC.

The commodity has been trending positively for about a month. Having set a significant high of $23.7 6 days ago, the ICE Sugar future is trading 1% lower.