稻穀 技術分析 - 稻穀 交易: 2018-12-04

Global rice shortage is expected

The British company Economist Intelligence Unit (EIU) has published another review of the global rice market. Will Rice price continue to rise?

On the daily timeframe, Rice: D1 is rising within the growing channel. A number of technical analysis indicators formed buy signals. The further price increase is possible in case of the deterioration of weather conditions and a reduction in world harvest in the current season.

• The Parabolic indicator gives a bullish signal.
• The Bollinger bands have narrowed strongly, which indicates low volatility. Both bands are titled upwards.
• The RSI indicator is above 50. No divergence.
• The MACD indicator gives a bullish signal.

The bullish momentum may develop in case Rice exceeds its four last fractal highs at 11.2. This level may serve as an entry point. The initial stop loss may be placed below the four last fractal lows, the Parabolic signal and the lower Bollinger band at 10.3. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop loss moving it in the direction of the trade. If the price meets the stop level (10.3) without reaching the order (11.2), we recommend to close the position: the market sustains internal changes that were not taken into account.

Summary of technical analysis