Bullish clues:
- Selling volumes were decreasing
- Price reached support zone at 13.115 USD (demand zone)
- Price crosses upward the 20 exponential moving average
- Price crosses upward the bearish oblique resistance (end of the falling wedge)
- RSI crossed the 50 level
The price of US Rice could reach the strong resistance at 13.455 USD, which is exactly the 23.6% Fibonacci retracement level, to the nearest pips.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
- Selling volumes were decreasing
- Price reached support zone at 13.115 USD (demand zone)
- Price crosses upward the 20 exponential moving average
- Price crosses upward the bearish oblique resistance (end of the falling wedge)
- RSI crossed the 50 level
The price of US Rice could reach the strong resistance at 13.455 USD, which is exactly the 23.6% Fibonacci retracement level, to the nearest pips.
Feel free to share, comment and give your opinion if it is constructive ;)
DISCLAIMER: This is not investment advice
Trade closed: target reached:
US Rice reached the price level of 13.440 USD and will now reach again the support around 13.100 USD => range.