Oats Price Bias Is Still Bullish | IFCM

Oats Price Bias Is Still Bullish

  • IFC Markets
    2020/06/01
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    2020/05/25
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    2020/05/18
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    2020/05/11
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    2020/05/04
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    2020/04/27
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    2020/04/20
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    2020/04/13
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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.

    OrderBUY
    Buy stopAbove 296.9
    Stop lossBelow 275.6

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