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