Technical Analysis #C-OATS : 2020-08-27

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
Recommendation for Oats : Buy

Buy Stop : Above 217.7
Stop Loss : Below 256.1

IndicatorValueSignal
RSINeutral
MACDBuy
Donchian ChannelNeutral
MA(200)Sell
FractalsBuy
Parabolic SARBuy

Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe the OATS: D1 is retracing up towards the 200-day moving average MA(200) which is declining. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 271.7. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the lower Donchian boundary at 256.1. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (256.1) without reaching the order (271.7), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis

Canada’s exports in the new crop year are higher compared with the last year figures. Will the oats prices rebound?