Sugar Weekly Forecast, Sept. 28 - Oct. 2

This/Next Week Forecast (September 28 - October 2, 2020)

Uptrend scenario
The uptrend may be expected to continue, while the market is trading above support level 12.90, which will be followed by reaching resistance level 14 - 15.
Downtrend scenario
A downtrend will start as soon, as the market drops below support level 12.90, which will be followed by moving down to support level 11.80 and if it keeps on moving down below that level, we may expect the market to reach support level 10.20.

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Previous week sugar price forecast chart

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Fundamental Analysis

Difference between supply and demand showing fair price between the levels 14- 15.

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

Uptrend scenario
The uptrend may be expected to continue, while the 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 market drops below support level 11.48, which will be followed by moving down to support level 10.2 - 9.7.

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