Sugar price loses momentum – Forecast today - 19-04-2024

Sugar Price Analysis

Expected Scenario

• Sugar price settles around 19.50$ level, noticing that stochastic loses its positive momentum clearly, waiting to motivate the price to resume the expected bearish trend on the intraday and short-term basis, which targets 18.50$ followed by 17.35$ levels as next main stations.
• In general, we will continue to suggest the bearish trend for the upcoming period conditioned by the price stability below 19.82$.

Expected Outcome

The expected trading range for today is between 19.00$ support and 19.75$ resistance.