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Sugar Weekly Forecast

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This/Next Week Forecast (November 23 – 27, 2020)

Uptrend scenario

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

Downtrend scenario

An downtrend will start as soon, as the market drops below support level 14.50, 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 market to reach support level 11.50.

Chart Sugar This/Next Week Forecast, Technical Analysis

previous week sugar price forecast chart

Chart Sugar This/Next Week Forecast, Technical Analysis

Fundamental Analysis

Difference between supply and demand shows fair price on the level 15 and new covid wave increasing downtrend pressure.

Chart Sugar Ending Stocks, Inventory

Monthly Forecast

Uptrend scenario

The uptrend may be expected to continue in case the 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 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 market to reach support level 11.50.

Chart Sugar Forecast 2020, Long-term Technical Analysis and Outlook

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