Sugar Weekly Forecast, October 19 - 23

This/Next Week Forecast (October 19 - 23, 2020)

Uptrend scenario

The uptrend may be expected to continue, while the sugar market is trading above support level 13.80, which will be followed by reaching resistance level 15.10 and if it keeps on moving up above that level, we may expect the market to reach resistance level 16.50.

Downtrend scenario

A downtrend will start as soon, as the sugar market drops below support level 13.80, which will be followed by moving down to support level 12.90 and if it keeps on moving down below that level, we may expect the sugar market to reach support level 11.90.

Previous week sugar price forecast chart

Fundamental Analysis

Difference between supply and demand showing fair price between the levels 15.

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

Uptrend scenario

The uptrend may be expected to continue, while the sugar market is trading above support level 12.2, which will be followed by reaching resistance level 13.8 and 15.1.

Downtrend scenario

A downtrend will start as soon, as the sugar market drops below support level 11.48, which will be followed by moving down to support level 10.2 - 9.7.