Sugar Price Forecast: Loss of Momentum, Bearish Outlook Maintained – 19-04-2024

by Jennifer

The sugar price is currently hovering around the $19.50 level, with stochastic indicators showing a clear loss of positive momentum. This suggests a potential resumption of the expected bearish trend in both the intraday and short-term perspectives. The primary targets for this downward movement are $18.50 followed by $17.35 levels.

Overall, the bearish trend is expected to persist in the upcoming period, contingent upon the price remaining below the $19.82 mark.


Expected Trading Range: $19.00 (Support) – $19.75 (Resistance)


Trend Forecast: Bearish

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