Daily Analysis

October Sugar

October Sugar closed lower on Friday despite a weaker Dollar but still managed a gain for the week. Traders should look for increased demand should the Dollar continue to weaken. India’s production problems could continue to mount especially if monsoon rains remain below normal.

Technically this market remains in an uptrend with no sign of resistance at this time.  Traders have been buying dips so watch for a correction to 18.08 to 17.88 to attract buyers.