Sugar Price Forecast For This/Next Week
(August 31 – September 4, 2020)
Uptrend scenario
The uptrend may be expected to continue in case the market rises above resistance level 12.90, which will be followed by reaching resistance level 13.80.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 12.20, which will be followed by moving down to support level 11.25.
chart: sugar market outlook, technical analysis
previous week sugar price forecast chart
Sugar Price Prediction
According to Fundamental Analysis difference between supply and demand shows oversold market and the fair price at the level $14.
chart: sugar futures warehouse ending stocks, inventory world with US
Sugar Forecast 2020, Long-term
(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.
chart: sugar technical analysis, market outlook
