Midday update for Sugar price 03-04-2020
Economies.com
2020-04-03 10:43AM UTC
Sugar price attacks 10.40 level to breach it and moves above it now, which urges caution from the upcoming trading, as holding with a daily close above this level will stop the negative scenario and push the price to 11.55 level initially.
We note that stochastic loses its positive momentum and approaches the overbought areas now, while the EMA50 forms continuous negative pressure against the price, thus, we believe that the chances valid to resume the bearish trend that its next main target located at 9.70.
The expected trading range for today is between 9.70 support and 10.60 resistance
The expected trend for today: Bearish
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