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Rice Investments Technical Analysis - Rice Investments Trading: 2020-04-08
Rough Rice Technical Analysis Summary
Above 14.53
Buy Stop
Below 13.8
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Sell |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
Rough Rice Chart Analysis
Rough Rice Technical Analysis
On the daily timeframe the RICE: D1 is rising above the 200-day moving average MA(200), which is rising itself. We believe the bullish momentum will continue after the price breaches above the upper boundary of Donchian channel at 14.53. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below the last fractal low at 13.8. 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 (13.8) without reaching the order (14.53), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Rough Rice
Demand in staples like rice increased recently due to coronavirus outbreak. Will the rice prices continue rising?
One of the effects of coronavirus lockdown measures has been a spike in demand for food staples as consumers worry about supply disruptions. Rice price particularly recorded a third straight monthly increase. As a result, export prices for rice from Thailand, the world’s second-biggest shipper, are at a six-year high. Higher demand is bullish for rice prices. However, experts estimate export availability for crops like wheat, rice, maize and soybean are “more than adequate to meet the anticipated demand”, according to the Agricultural Market Information System (AMIS) comprised of ten international organizations including the Food and Agriculture Organization of UN, OECD and World Bank. And AMIS estimates global rice reserves at their second highest on record and sufficient to cover over 4 months of projected world consumption.
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