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Rice Investments Technical Analysis - Rice Investments Trading: 2022-07-06
Rough Rice Technical Analysis Summary
Below 16,1
Sell Stop
Above 17,4
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| MA(200) | Neutral |
| Fractals | Sell |
| Parabolic SAR | Sell |
| Bollinger Bands | Neutral |
Rough Rice Chart Analysis
Rough Rice Technical 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?
USDA forecasts an increase in global rice production in the 2021/2022 agricultural season to 513.7 million tons, compared with 509.3 million tons a season earlier. The harvest forecast for the 2022/2023 season has been increased to 515.4 million tons. Remember that the main producers of rice are China and India. Their share in the world harvest is 29% and 25%, respectively. Followed by Bangladesh (7%), Indonesia (7%), Vietnam (5%) and Thailand (4%). The weather in these countries may affect rice quotes. Note that global rice exports are much less than production. Last season it amounted to 52.6 million tons. India's plans to increase exports by 1 million tons of rice to a record level of 22 million tons may become a negative factor for quotations.
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