SB technical analysis: Support pressure increases at USX16.7

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Sugar No. 11 slides 2.04% today

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24.08.2026

SB technical analysis: Support pressure increases at USX16.7 — Sugar No. 11 slides 2.04% today

Sugar No. 11 (SB) is trading at USX17.25 after a daily decline of 2.04%. The asset currently sits below its key moving averages, showing pressure from sellers in the short and medium term while long-term support remains intact.

SB price prediction

24H -0.16%

19.32¢

48H -0.36%

19.28¢

7D -0.1%

19.33¢

1M 9.61%

21.21¢

3M 2.53%

19.84¢

6M -1.86%

18.99¢

12M 21.14%

23.44¢

Current price: 19.35¢ -0.1200 0.62%

Real-time Data 11:46

Daily range 19.22

19.40

Weekly range 18.87

19.86

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Highlights

SB/USX trades below key short- and medium-term moving averages but remains supported above the long-term average.
Momentum indicators such as MACD, RSI, and CCI suggest continued weakness, though ADX and Stoch RSI show neutral signals.
Price declined 2.04% to USX17.25 and is projected to consolidate between USX16.7 and USX17.56 in the next 2 to 3 days, with 65% probability of further downside.

Bearish momentum strengthens as technicals confirm resistance zones

On the H1 timeframe, SB/USX trades below the MA-20 and MA-50 but remains above the MA-200. The Ichimoku Kijun level at USX17.68 acts as immediate resistance. MACD signals a sell, with ADX showing a neutral trend and high intraday volatility. Both RSI and CCI are in sell territory without clear oversold conditions, while Stochastic RSI is neutral. Bull/Bear Power indicates sellers dominate intraday momentum, and the Awesome Oscillator is aligned with this direction.

Downside risk elevated as consolidation range narrows

In the short term, SB/USX is expected to consolidate within the USX16.7 to USX17.56 range over the next 2 to 3 trading days. There is a 65% probability of further downside movement, while a rebound is less likely, with a 35% chance. A move above the USX17.68 resistance would open up the potential for recovery, while a break below USX16.7 would likely extend the decline.

Anton Kharitonov, expert at Traders Union, sees Sugar No. 11 (SB) under continued selling pressure as technical indicators remain bearish. The asset is trading below key short-term moving averages with negative momentum dominating the intraday picture. He notes that unless USX17.68 is reclaimed, the path of least resistance is lower. "Until there is a clear move above the USX17.68 resistance, I remain cautious and see limited potential for a rebound in the near term."

Previously it was reported that strong technical momentum and regulatory measures were supporting a bullish outlook for Sugar No. 11. The current analysis signals a shift, with downside risk now prevailing and the critical level to monitor being USX16.7, as a break below this could accelerate further declines.

Source of Data: SB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.

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