Sugar price tests the resistance – Analysis - 08-04-2021

2021-04-08 04:18:54 GMT (Economies.com)
 

Sugar price showed additional rise yesterday but it stopped at the EMA50 that forms good resistance against the price, to support the continuation of the expected bearish trend scenario for the upcoming period, reinforced by stochastic negativity, waiting to head towards 14.34 that represents our next main target.

 

On the other hand, we should note that holding below 15.55 represents the most important condition to continue the suggested bearish trend.

 

The expected trading range for today is between 14.60 support and 15.20 resistance

 

The expected trend for today: Bearish

 
 
 
  Symbol Last Change Chg.%
1.2057
0.0031
0.2586%
1.3876
-0.0077
0.5486%
Tadawul
10127.90
18.31
0.18%
26.046
0.254
0.985%
61.590
-1.588
2.514%
65.77
0.37
0.57%
1783.480
12.030
0.679%
 
 
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