Sugar Weekly Forecast

 This/Next Week  Forecast (October 5 – 9, 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 and if it keeps on moving up above that level, we may expect the market to reach resistance level 15.10.
Downtrend scenario
An downtrend will start as soon, as the market drops below support level 12.45, which will be followed by moving down to support level 11.48 and if it keeps on moving down below that level, we may expect the market to reach support level 10.20.

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 showing fair price between the levels 14- 15.

Chart Sugar Ending Stocks, Inventory

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.

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

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