Sugar ends the trading week at 12.44 and continues to move as part of the decline. Moving averages indicate a bearish trend. At the moment, we can expect a continuation of the fall and the test of the support area near the level of 12.10. Where can we expect a rebound again and an attempt to continue the growth of the Sugar rate with a potential target above the level of 14.10.
Sugar forecast for the week December 24 — 28, 2018
In favor of the growth of Sugar quotes in the current trading week December 24 — 28, 2018, a test of the rising support line on the relative strength index (RSI) will be made. Cancellation of growth options Sugar will fall and the breakdown of the area of 11.85. This will indicate a breakdown of the support area and the continuation of the fall of Sugar with a potential target below 10.80. Confirmation of the development of an upward trend will be the breakdown of the resistance level and closing of quotations above the 13.30 area.
Sugar forecast for the week December 24 — 28, 2018 suggests an attempt to test the support area near the level of 12.10. Then the continuation of the growth of the instrument in the area below the level of 14.10. An additional signal in favor of raising the rate of Sugar will be the test of the support line on the indicator of relative strength index (RSI). Cancellation of growth options Sugar will make the fall and the breakdown of the area of 11.85. In this case, we should expect a further decline.
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