This/Next Week Forecast (November 30 – December 4, 2020)
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 15.20, which will be followed by moving up to resistance level 16.50.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 15.20, which will be followed by reaching support level 13.93 and 13.00..
previous week sugar price forecast chart
Fundamental Analysis
Difference between supply and demand shows fair price on the level 15 and new covid wave increasing downtrend pressure.
Monthly Forecast, December 2020
Uptrend scenario
An uptrend will start as soon, as the market rises above resistance level 15.20, which will be followed by moving up to resistance level 16.50 and 18.
Downtrend scenario
The downtrend may be expected to continue, while market is trading below resistance level 15.20, which will be followed by reaching support level 13 and if it keeps on moving down below that level, we may expect the market to reach support level 11.50.
previous month forecast
