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2417.755
22.865%
79.979
1.648%
1.0872
1.5474%
5307.28
0.13%
39999.01
0.20%
18551.55
0.11%
Sugar price within sideways range – Forecast today - 06-05-2024
Economies.com
2024-05-06 04:09AM UTC
Sugar Price Analysis
Expected Scenarios
Sugar price fluctuates within sideways range as appears on the chart, keeping its stability below 19.82$, to keep the bearish trend scenario valid as it is without any change, supported by the negative pressure formed by the EMA50, besides stochastic loss to the positive momentum, waiting to visit 19.00$ followed by 18.50$ levels as next targets.
On the other hand, we should note that breaching 19.82$ will stop the expected decline and lead the price to build bullish wave that targets 20.50$ followed by 21.35$ on the near-term basis.
Trading Range for Today
Support: 18.85$
Resistance: 19.60$
Trend forecast: Bearish
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