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Sugar price is affected by the positive momentum – Forecast today - 21-05-2024
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Sugar price is affected by the positive momentum – Forecast today - 21-05-2024
May 20, 2024 9:41 PM

Sugar Price Analysis Expected Scenario Sugar price ended yesterday with clear positivity, to test 18.65$ level, affected by stochastic positivity that loses its positive momentum clearly, waiting to resume the expected bearish wave on the intraday basis, which its next target located at 17.35$. The EMA50 keeps supporting the suggested bearish wave, noting that breaching 18.90$ will lead the price to achieve additional gains and test 19.82$ before any new attempt to decline. Expected Trading Range Between 18.10$ support and 18.90$ resistance.

Trend Forecast: Bearish

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