Sugar price confirms the break – Forecast today - 17-04-2024
Economies.com
2024-04-17 03:39AM UTC
Sugar Price Analysis
Expected Scenario
- Sugar price broke the 19.82$ level clearly and closed below it yesterday, reinforcing expectations of continuing the bearish trend.
- Further decline is anticipated on the intraday and short-term basis, with a next main target at 18.50$.
- The continuation of the bearish wave hinges on price stability below 19.82$.
- Breaching 19.82$ may prompt a recovery attempt towards 20.50$ initially, possibly extending to 21.35$.
Expected Trading Range
Between 19.00$ support and 19.75$ resistance.
Trend Forecast: Bearish
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