Sugar Weekly Forecast For Oct. 12-16

The Upcoming Week Forecast (October 12 - 16, 2020)

• Uptrend scenario: The uptrend may be expected to continue if the market trades above the support level of 13.25, which would be followed by reaching resistance level 15.10.
• Downtrend scenario: A downtrend may start as soon as the market drops below the support level of 13.25, which would be followed by moving down to support level 11.90 - 11.50.

Previous Week Sugar Price Forecast Chart

Fundamental Analysis

The difference between supply and demand, as well as the price, is illustrated on the levels 14 - 15.

Long-term Forecast (Quarter III: July - September, 2020)

Uptrend scenario: The uptrend may be expected to continue if market trades above the support level of 12.2, which would be followed by reaching resistance level 13.8 and 15.1.
Downtrend scenario: A downtrend may start as soon as the market drops below the support level of 11.48, which would be followed by moving down to support level 10.2 - 9.7.