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Rough Rice Technical Analysis - Rough Rice Trading: 2021-09-22

Rough Rice Technical Analysis Summary

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Strong SellSellNeutralBuyStrong Buy

Above 13,94

Buy Stop

Below 13,14

Stop Loss

Dmitry Lukashev
Senior Analytical Expert
Articles 1783
IndicatorValueSignal
RSI Neutral
MACD Buy
MA(200) Neutral
Fractals Neutral
Parabolic SAR Buy
Bollinger Bands Buy

Rough Rice Chart Analysis

Rough Rice Chart Analysis

Rough Rice Technical Analysis

On the daily timeframe, RICE: D1 is in an uptrend and has exceeded the triangle resistance line. A number of technical analysis indicators have generated signals for further growth. We do not rule out a bullish movement if RICE rises above its latest high: 13.94. This level can be used as an entry point. The initial risk limitation is possible below the Parabolic signal, the last lower fractal and the 200-day moving average line: 13.14. After opening a pending order, move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit / loss ratio in our favor. The most cautious traders, after making a deal, can go to the four-hour chart and set a stop-loss, moving it in the direction of movement. If the price overcomes the stop level (13.14) without activating the order (13.94), it is recommended to delete the order: there are internal changes in the market that were not taken into account.

Fundamental Analysis of Commodities - Rough Rice

In the United States, the area under rice cultivation has decreased. Will the RICE quotes grow?

According to the United States Department of Agriculture (USDA), the area planted for rice in the United States in 2021 was 2.54 million acres. This is 16% less than last year (3.04 million acres). According to USDA forecasts, the US rice harvest in 2021 will be 190.5 million cwt (45.3 kg hundredweight). This is also (like the area under crops) 16% less than last year's level. Rice yields are expected to be about the same as in 2020 - 7.6 thousand pounds per acre. Drought in Central Asia could be an additional positive for rice. According to the forecast of the Iranian Grains and Essential Goods Department of Agriculture Ministry, the rice crop in Iran in the agricultural season 2021-2022 will decrease by 13% due to lack of rainfall.

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This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.