This/Next Week Forecast (October 19 – 23, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 13.80, which will be followed by reaching resistance level 15.10 and if it keeps on moving up above that level, we may expect the market to reach resistance level 16.50.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 13.80, which will be followed by moving down to support level 12.90 and if it keeps on moving down below that level, we may expect the market to reach support level 11.90.
previous week sugar price forecast chart
Fundamental Analysis
Difference between supply and demand showing fair price between the levels 15.
Long-term Forecast
(Quarter III: July – September, 2020)
Uptrend scenario
The uptrend may be expected to continue, while market is trading above support level 12.2, which will be followed by reaching resistance level 13.8 and 15.1.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 11.48, which will be followed by moving down to support level 10.2 – 9.7.