- Analytics
- Technical Analysis
SUGAR Technical Analysis - SUGAR Trading: 2021-03-12
Sugar Technical Analysis Summary
Below 15,5
Sell Stop
Above 17,5
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| MA(200) | Neutral |
| Fractals | Neutral |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Sugar Chart Analysis
Sugar Technical Analysis
On the daily timeframe, SUGAR: D1 broke down the uptrend support line. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish move if SUGAR: D1 falls below the last low: 15.5. This level can be used as an entry point. We can place a stop loss above the maximum since March 2017, the last high fractal and the Parabolic signal: 17.5. After opening a pending order, we can move the stop loss to the next fractal maximum following the Bollinger and Parabolic signals. Thus, we change the potential profit/loss ratio in our favor. After the transaction, the most risk-averse traders can switch to the four-hour chart and set a stop loss, moving it in the direction of the bias. If the price meets the stop loss (17.5) without activating the order (15.5), it is recommended to delete the order: the market sustains internal changes that have not been taken into account.
Fundamental Analysis of Commodities - Sugar
A global sugar surplus is expected in the 2020/2021 growing season. Will the SUGAR prices continue declining?
The Brazilian agency Datagro predicts a sugar surplus of 1.1 million tons in the world market in the 2021/2022 season. Meanwhile, a global sugar deficit of 2.6 million tons is expected in the 2020/2021 season. An additional negative factor for sugar prices may be the announcement by the Brazilian Sugarcane Industry Association (UNICA) that the sugar production in central and southern Brazil increased by 44% in annual terms from October to February and amounted to 38.2 million tons. At the same time, the share of sugar cane in Brazilian sugar production increased to 46.2% in the 2020/2021 season from 34.5% in the previous 2019/2020 season. The Indian Sugar Mills Association (ISMA) reported that sugar production in India in October-February increased by 20% in annual terms and already amounted to 23.4 million tons. Real growth gets ahead of the forecast by the Indian Sugar Trade Association, which expected sugar production in India to grow by 9% for the entire 2020/21 season. It estimated that 29.9 million tons of sugar could be produced in the current season. Based on the interim data, it is likely to be more. Brazil and India are the world's largest sugar producers.
Explore our
Trading Conditions
- Spreads from 0.0 pip
- 30,000+ Trading Instruments
- Instant Execution
Ready to Trade?
Open Account Note:
This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.
