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Rice Investments Technical Analysis - Rice Investments Trading: 2023-08-29
Rough Rice Technical Analysis Summary
Above 16.29
Buy Stop
Below 15.83
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| Donchian Channel | Buy |
| MA(200) | Buy |
| Fractals | Buy |
| Parabolic SAR | Buy |
Rough Rice Chart Analysis
Rough Rice Technical Analysis
The #C-RICE technical analysis of the price chart in 4-hour timeframe shows #C-RICE,H4 has rebounded to two-week high above the 200-period moving average MA(200), which is tilting upward currently. We believe the bullish momentum will continue as the price breaches above the upper bound of Donchian channel at 16.29. A pending order to buy can be placed above that level. The stop loss can be placed below 15.83. After placing the order, the stop loss is to be moved every day to the next fractal low indicator, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level without reaching the order, we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis of Commodities - Rough Rice
India imposed additional ban on rice exports prohibiting the export of Basmati rice valued at less than $1,200 per metric tonne. Will the rice price persist its rebounding?
Earlier India prohibited the export of non-Basmati white rice on July 20. The measure was justified by rising domestic prices of rice. In August 2023, 20% export duty was imposed on par-boiled non-basmati rice. In September 2022, India had banned exports of broken rice. India is the top rice exporter of the world. Lower Indian rice exports are bullish for rice price. There have been reports that Indian rice exports curbs have impacted the availability of foodgrains in many African countries.
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