Technical Analysis #C-RICE : 2020-04-15

IFC Markets

Master Trader
Oct 31, 2012
1,938
10
84
London (Great Britain)
www.ifcmarkets.com
IndicatorValueSignal
RSISell
MACDBuy
MA(200)Neutral
FractalsNeutral
Parabolic SARSell
Bollinger BandsBuy
Chart Analysis
IFC Markets Tech Analysis

On the daily timeframe, RICE: D1 is in a short-term uptrend. It approached the upper limit of a long-term growing channel. The growth rate slowed down and a number of technical analysis indicators formed signals for a decline. There is a possibility of a downward correction to the lower boundary of the channel. We do not exclude a bearish movement if RICE falls below the last two fractals: 13.8. This level can be used as an entry point. The first stop loss is possible above the Parabolic signal, the last upper fractal and the maximum since July 2014: 14.55. After opening the pending order, we move the stop loss after the Bollinger and Parabolic signals to the next fractal maximum. Thus, we change the potential profit / loss ratio in our favor. After the transaction, the most risk-averse traders can switch to a four-hour chart and set a stop loss, moving it in the direction of the trend. If the price overcomes the stop level (14.55) without activating the order (13.8), it is recommended to delete the order: some internal changes in the market haven not been taken into accounat.

Fundamental Analysis

The Bangladeshi government is allocating $ 1.7 billion to help farmers affected by the coronavirus pandemic. Will RICE quotes decrease ?