fb#C-OATS Price Forecast | US oat crop is expected to grow | IFCM

Technical Analysis #C-OATS : 2020-11-30

Recommendation for Oats :

Strong SellSellNeutralBuyStrong Buy

Below 294

Sell Stop

Above 314

Stop Loss

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Senior Analytical Expert
Articles 1670
RSI Sell
MA(200) Neutral
Fractals Neutral
Parabolic SAR Sell
Bollinger Bands Neutral

Chart Analysis

IFC Markets Tech Analysis

On the daily timeframe, Oats: D1 is correcting downward from the upper border of the 2-year neutral range (since Autumn 2018). It breached down the mid-term uptrend support line. A number of technical analysis indicators formed signals for further decline towards the lower border of the long-term neutral range. We do not rule out a bearish move if Oats falls below its last low: 294. This level can be used as an entry point. We can place a stop loss above the last 2 upper fractals and the Parabolic signal: 314. After opening a pending order, we move the stop loss following 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 the four-hour chart and place a stop loss, moving it in the direction of the bias. If the price meets the stop loss (314) without activating the order (294), it is recommended to delete the order: some internal changes in the market have not been taken into account.

Fundamental Analysis

The USDA expects an increase in oat crop.Will the Oats quotes move down?

The USDA forecasts an increase in the 2020 oat crop to 65.4 million bushels, which is 23% more than in 2019. At the same time, yields could increase by 0.8 bushels to 65.1 bushels per acre. Harvested area for oats in the United States will increase by 21% to 1 million acres.

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