RICE .....high possible for falling downtrend........
after several lower tops.there is a big bearish candle over the resistance line ....
sell if closing below 920 on daily time frame ...
ZR1! trade ideas
Rice futures about to rise dramaticallySince 2002 rice has had 10 major demand levels. Nearly every single demand level occurred between March through May (planting season) with the exception of one in July 2010. Every time rice prices found a bottom between March through May, prices increased shortly after, often substantially.
Below is a chart showing the daily triangle breaking out. This is an example of a perfectly aligned short term technical/cyclical/seasonal play.
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RICE IS A POTENTIAL HIGH REWARD BUY TRADETrendline broken, and market formed a textbook flag above the broken line.
For me a textbook buy signal is forming here.
If you like to take a little bit more risk like me, buy here at 975 and place your stop at 957.
Target would be the longterm trendline at 1060.
This would result in a nice 5:1 Risk:Reward trade.
If your looking for a more conservative approach wait for the flag to break and enter on the break.
RICE LONG TERM VIEWIt looks like we have a triple three correction in place which is about to end soon.
Therefore I expect a longer term bull run in rice.
Rice: Follow Monthly Interesting scenario approaching in rice futures on a long term basis either to the downside or a bottoming opportunity.
Rice - Trying to escape from its main descending channel?Rice started a new intermediate trend with some attempts to get out of the bearish status it got since Oct. 2015. It got some support from an oblique trend that brings it towards the lower level of the bearish cloud. This area needs close monitoring, it could offer an opportunity for a buy in case of a breakout. The lagging span would however need to go through several layers of resisting areas before offering safer long trades (remember, the lagging span should be above its price, and ideally above the cloud for a long trade).
