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Sugar price shows high volatility – Forecast today - 17-10-2024
Sugar price showed strong rise yesterday and reached 25.00$ areas, but it bounced downwards sharply to settle below 22.73$ level, which keeps the overall negative scenario valid for the upcoming period, waiting to test 21.55$ initially, noting that breaking it will push the price towards 20.80$ as a next negative target.
Stochastic shows negative signals that support the expectations to decline, which will remain valid conditioned by the price stability below 22.73$.
The expected trading range for today is between 21.25$ support and 22.10$ resistance
Trend forecast: Bearish
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