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Technical Selling Weighs on Overbought Sugar Prices

Commodities & Raw MaterialsMarket Technicals & FlowsEnergy Markets & Prices

Sugar prices reversed lower after a recent rally pushed them into overbought territory, triggering technical selling. October NY world sugar #11 (SBV26) fell 0.02 (-0.13%), while Aug London ICE white sugar #5 (SWQ26) dropped 11.30 (-2.31%) as the market gave up earlier gains.

Analysis

Sugar prices reversed lower after a recent rally pushed them into overbought territory, triggering technical selling. October NY world sugar #11 (SBV26) fell 0.02 (-0.13%), while Aug London ICE white sugar #5 (SWQ26) dropped 11.30 (-2.31%) as the market gave up earlier gains.

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mildly negative

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