In the last three weeks, nearby Mar-22 #11 world raw sugar has kept broadly above retracement support around 18.00 and 17.80 and resistance near 18.45 and 18.85.

The lower Bollinger Band may offer support below 17.75, while further resistance may be seen around 19.00, from 19.10 to 19.15, and from 19.45 to 19.55. RSI is neutral to bullish. After rejecting crossovers, MACD and the stochastic are nominally bullish, as well.

Also rangebound, most active May-22 #11 world sugar saw its lowest open since August 2021 on Thursday before settling at a three-session high. Support may be below 17.55 and above 17.30, with resistance from 17.90 to 18.00 and near 18.10 and 18.30. RSI is bullish, while MACD is neutral. The stochastic is neutral to bullish after teasing an oversold signal.

Mar-22 #5 world white sugar rallied from Monday through Wednesday to a two-month high, nearing its upper Bollinger Band and retracement resistance below $514. The contract retraced lower Thursday to a close straddling the 20-day average near $501; further support is possible above $498 and below $492. RSI and MACD are neutral, while the stochastic is nominally bullish.

May-22 #11 world raw sugar history

Source: DTN
Posted by: Information Services
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