Thursday Forecast

Uptrend scenario

The uptrend may be expected to continue, while the sugar market is trading above support level 15.10, which will be followed by reaching resistance level 16.50.

Downtrend scenario

A downtrend will start as soon, as the sugar market drops below support level 15.10, which will be followed by moving down to support level 13.93.

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This/Next Week Forecast (November 16 - 20, 2020)

Uptrend scenario

The uptrend may be expected to continue in case the sugar market rises above resistance level 15.10, which will be followed by reaching resistance level 16.50.

Downtrend scenario

A downtrend will start as soon, as the sugar market drops below support level 13.93, which will be followed by moving down to support level 13.00 and if it keeps on moving down below that level, we may expect the sugar market to reach support level 11.50.

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Previous week sugar price forecast chart

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Fundamental Analysis

The difference between supply and demand shows the fair price on level 13 and new covid wave increasing downtrend pressure.

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Monthly Forecast

Uptrend scenario

The uptrend may be expected to continue in case the sugar market rises above resistance level 15.10, which will be followed by reaching resistance level 16.50 and 18.00.

Downtrend scenario

The downtrend may be expected to continue, while the sugar market is trading below resistance level 15.10, which will be followed by reaching support level 13.00 and if it keeps on moving down below that level, we may expect the sugar market to reach support level 11.50.

(Click on image to enlarge)