albert.callisto

Rice - Trying to escape from its main descending channel?

CBOT:ZR1!   RICE FUTURES - ECBT
43 0 2
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).
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