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Sugar price tests the resistance – Forecast today - 30-04-2024
Sugar Price Analysis
The price of sugar recorded positive trades yesterday, testing the key resistance level at 19.82$, but it remains below this level for now. This keeps the bearish trend scenario active for the upcoming period, with targets at 19.00$ followed by 18.50$ levels as initial negative stations.
Stochastic indicates a loss of positive momentum, supporting expectations for a decline. It's important to note that holding below 19.82$ is crucial to achieve the suggested targets.
Expected Trading Range
- Support: 19.20$
- Resistance: 20.00$
Trend Forecast
Bearish
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