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Sugar Price Tests Support Base: Forecast for June 19, 2024

by Jennifer

Sugar Price Analysis

In recent sessions, sugar prices have faced negative pressure, testing the key support level at $18.90. However, the price remains stable above this level, with clear positive signals from the stochastic indicator suggesting a potential upward move. The primary target for this bullish wave is $19.82.

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Given these indicators, the bullish trend is expected to continue in the upcoming period. It’s important to note that if the price breaks below $18.90, it could face additional negative pressure, targeting $18.10 and then $17.35.

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Expected Trading Range for Today

  • Support: $18.70
  • Resistance: $19.40

Trend Forecast: Bullish

Sugar is expected to maintain its upward trend, supported by positive technical indicators and the stability above the key support level.

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