After three days of going down, the Sugar future is flat today, hovering around $26.37

Sugar trades at $26.37 per pound, after ending Friday at $26.35.

With regards to technical trend indicators, chart analysis show that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, according to technical analysis of ICE Sugar's Relative Strength Index (RSI), the market is currently overbought. Analysis based on the asset volatility indicates that ICE Sugar's upper Bollinger Band® is at $26.89, suggesting that a downward move may follow.

Overall, while the Sugar future has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.

Meanwhile, mixed performances are seen in other Softs as Coffee closed at $185.75 (down 1.3%). Cotton gained 0.51% and is now trading at $81.21. Having closed the previous session at $2,924, Cocoa is up 0.41% today to currently trade at around $2,936.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as United States JOLTs Job Openings (Mar) is expected tomorrow at 14:00 UTC. United States ISM Manufacturing PMI (Apr) is scheduled for today at 14:00 UTC.

The commodity has been trending positively for about 2 months. Sugar now trading 24.35% above its 3-month low of $17.4.