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May 22, 2023
The Sugar future has been losing ground for 8 days, shedding a total of 3.15% of its value. Today is looking a bit better: the Sugar future trades at $25.8 per pound, after ending Friday at $25.78.
Japanese candlestick formations show 'Bullish Harami' is a candlestick chart indicator used for detecting reversals in an existing bear trend. It is generally indicated by a small price increase that's contained within a broader downward price movement and is commonly associated with a bearish trend coming to an end.
Meanwhile, mixed performances are seen in other Softs as Coffee stumbles 0.68% to trade around $190.7.
Moreover, United States New Home Sales (Apr) scheduled to come out tomorrow at 14:00 UTC. United States Services PMI is expected tomorrow at 13:45 UTC. United States Building Permits will be released tomorrow at 12:00 UTC.
Approximately 12 days ago, the Sugar future reached a significant high of $26.64 but has struggled to hold onto its gains and declined 3.23% since then.
