Sugar Weekly Forecast

This/Next Week  Forecast (December 14 – 18, 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 13.00.

Chart Sugar This/Next Week Forecast, Technical Analysis

previous week sugar price forecast chart
Chart Sugar This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Difference between supply and demand shows fair price on the level 15 and new covid wave increasing downtrend pressure.

Chart Sugar Ending Stocks, Inventory

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.

Chart Sugar Forecast 2020, Long-term Technical Analysis and Outlook

previous month forecast

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