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Oats Price Bias Is Still Bullish
The #C-OATS price forecast in our May 8, 2020 technical analysis was bullish.
Market data after #C-OATS,Daily May 8, 2020 technical analysis still indicate bullish bias.
- #C-OATS,Daily closed 0.3% higher over day on May 8, 2020 and is still gaining.
- On downside risk, cocoa inventories rebounded to a 9-1/2 month high of 4.346 million bags last Friday from December's 3-1/4 year low of 2.688 mln bagsDemand for oats product was augmented by global outbreak of coronavirus, according to a study by 3rd Watch market Reports and Analytics..
Here is what indicators show as of May 11, 2020:
- The Parabolic Indicator gives a bullish signal.
- The Donchian channel indicates no trend: it is flat.
- The MACD indicator gives a bullish signal.
- The RSI oscillator gives a neutral signal.
- The Fractals give bullish signal.
- The MA(200) Indicator gives a bullish signal.
So the bullish forecast still stands for the #C-OATS,Daily.
Order | BUY |
Buy stop | Above 296.9 |
Stop loss | Below 275.6 |
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