Sugar price surpasses the moving average – Analysis - 10-07-2020

Sugar price managed to surpass the EMA50 and settles below it, which adds more support to the continuation of the expected bearish trend scenario on the intraday and short term basis, which targets testing 11.45 as a next station.

Stochastic provides negative signals that support the suggested decline, which will remain valid conditioned by the price stability below 12.16.

The expected trading range for today is between 11.50 support and 12.16 resistance

The expected trend for today: Bearish