Sugar price keeps declining – Forecast – 23-11-2024

Economies.com

2024-11-23 04:12AM UTC

Sugar price shows more decline to succeed achieving our first negative target at 20.75$, waiting to surpass this level to confirm extending the bearish wave towards 20.08$ as a next main target.

Therefore, the bearish trend will remain suggested on the intraday basis, supported by the negative pressure formed by the EMA50, noting that holding below 21.55$ is important to guarantee the continuation of the expected bearish wave.

The expected trading range for today is between 20.20$ support and 21.20$ resistance

Trend forecast: Bearish