Sugar Price Resumes Decline, Forecast for May 13, 2024

by Jennifer

In the analysis of sugar prices, it is observed that the commodity resumes its downward trajectory, distancing itself from the $19.82 level. This development reinforces expectations for the continuation of the bearish trend on an intraday basis. It’s worth noting that anticipated targets begin at $19.00, followed by $18.00.

The negative pressure exerted by the EMA50 continues to weigh on the price, supporting the envisaged bearish movement. Maintaining levels below $19.82 is deemed crucial to achieving the awaited targets.


For today’s trading range, expectations lie between support at $18.70 and resistance at $19.50.


Trend Forecast: Bearish

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