fbAnalisis Teknikal #C-RICE | #C-RICE forecast bearish despite flooding in Arkansas | IFCM Malaysia
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Analisis Teknikal #C-RICE : 2021-06-10

Cadangan Rough Rice:

Sell
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Jual KuatSellberkecualiBuyBeli Kuat

Below 13.18

Sell Stop

Above 13.42

Stop Loss

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Senior Analytical Expert
Artikel 1819
PenunjukNilaiIsyarat
RSI Buy
MACD Sell
Donchian Channel Sell
MA(200) Sell
Fractals Sell
Parabolic SAR Sell

Analisis carta

IFC Markets Tech Analysis

The #C-RICE technical analysis of the price chart in 4-hour timeframe shows #C-RICE: H4 is falling below the 200-period moving average MA(200), which is rising still. We believe the bearish momentum will continue as the price breaches below the lower bound of Donchian channel at 13.18. A pending order to sell can be placed below that level. The stop loss can be placed above 13.42. After placing the order, the stop loss is to be moved every day to the next fractal high, 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.

Analisis asas

Flooding after heavy rains in Arkansas may negatively impact rice crop in the major US rice growing area. Will the rice price continue falling?

Four US regions produce almost the entire US rice crop: Arkansas Grand Prairie, Mississippi Delta (parts of Arkansas, Mississippi, Missouri, and Louisiana), Gulf Coast (Texas and Southwest Louisiana) and Sacramento Valley of California. Tuesday morning, the National Weather Service issued a flash flood warning for the southern half of Arkansas, as well as adjacent portions of Louisiana and Texas. By Wednesday morning, more than 13 inches of rain had fallen in Desha County and some adjacent counties in both Arkansas and Mississippi. Most of the Arkansas’ approximately 1.4 million acres of rice is grown in flood conditions, making a rain event like the one Arkansas is experiencing this week less impactful for the crop. However if water from the storms doesn’t drain off within a week, rice growers may face stagnant water conditions which can impact the crop’s survival, according to US Department of Agriculture experts. Lower crop expectations are bullish for rice price. However the current technical setup is bearish for rice.

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