Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Technical Analysis #C-RICE : 2019-07-09
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="IFC Markets, post: 166876, member: 18359"] [SIZE=5][B]Bad weather can reduce rice harvest[/B][/SIZE] Drought in India and worsening weather conditions in China can reduce yields. Will the rice quotation growth continue ? According to the Indian Ministry of Agriculture & Farmers' Welfare as of July 5, 2019, the area of summer rice crops in the country was 5.2 million hectares. This is almost a quarter less than last year’s level for the same date. In India, the rainy season began because of the monsoons. It is usually observed from June to September. Already the 5th week in a row there is a lack of rain. Moreover, their number for the week ended July 3 was 6% lower than the average for the last 50 years. Lack of moisture can be a major factor in reducing the yield of rice and other crops in India. In China, there is increased heat, but precipitation is still common for midsummer. Note that the main global rice exporters are located in one region - in Asia: India, Thailand, Vietnam and Pakistan. China is the world's largest importer of rice. [IMG]https://ifccd.net/uploads/image/08-07-20191.png[/IMG] On the daily timeframe [B]Rice: D1[/B] is in the mid-term uptrend. The line of the previous neutral trend has now become a support level that was not broken down during the price correction. Various technical analysis indicators have generated an uptrend signals. Further growth of quotations is possible in case of a further reduction in world yield. [LIST] [*]The [B]Parabolic indicator [/B] shows an uptrend signal. [*]The Bolinger bands have narrowed, indicating a volatility decrease. The bottom line of Bollinger has a slope up. [*]The RSI indicator is above the 50 mark. It has formed a divergence to increase. [*]The MACD indicator shows a signal to increase. [/LIST] The bullish momentum may develop in case if [B]Rice[/B] exceeds its last maximum: 11.65. This level can be used as an entry point. The initial stop loss can be placed below the Parabolic signal, the last 2 lower fractal and the bottom Bollinger line: 11.15. After placing the pending order, the stop loss shall be moved following the signals of Bollinger and Parabolic to the next fractal minimum. 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 a stop loss moving it in the direction of the trade. If the price meets the stop level (11,15) without reaching the order (11,65), we recommend to cancel the order: the market sustains internal changes that were not taken into account. [SIZE=5][B]Technical Analysis Summary[/B][/SIZE] [B]Position[/B] Buy [B]Buy stop[/B] Above 11,65 [B]Stop loss[/B] Below 11,15 [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…