Technical analysis: Will the rice quotes continue to correct?
|Rough rice technical analysis summary
Sell StopÖ‰ Below 16,1.
Stop Loss: Above 17,4.
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Rough rice chart analysis
On the daily timeframe, RICE: D1 has broken down the support line of the neutral range and the uptrend. A number of technical analysis indicators formed signals for further decline. We do not rule out a bearish movement if RICE: D1 falls below its most recent low of 16.1. This level can be used as an entry point. The initial risk limit is possible above the last 2 upper fractals, the upper Bollinger band and the Parabolic signal: 17.4. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal high. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders after making a trade can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (17.4) without activating the order (16.1), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental analysis of commodities - Rough rice
The United States Department of Agriculture (USDA) has increased its forecast for the global rice harvest. Will the RICE quotes continue to correct?
Want to get more free analytics? Open Demo Account now to get daily news and analytical materials.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.