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Trading Idea - Oats, 05-02-2024
Trading Signal: #C-OATS
| Order | Sell |
| Direction | Range Bound |
| Pattern | Trading in flag pattern |
| Interval | 4 hours |
| Length (Candles) | 6 |
Idea Summary
The medium term OATS price forecast is bearish. The OATS price is testing Fibonacci 38.2 level after retracing down following a test of resistance of a flag chart pattern above the 200-period moving average MA(200). Most likely the price will breach below Fibonacci 38.2 and continue retreating while there is a likelihood it may fail to break below Fibonacci 38.2 and start rising as it reverses its sliding.
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