Rice is Up for the 6th Day in a Row

The Daily View for Rice

  • At the time of this writing, RR1’s price is up $0.1 (0.73%) from the day prior.
  • Rice has seen its price go up 5 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Rice. Given that we see an uptrend on the 10 and 5 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between RR1’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in RR1’s price.

Below is a daily price chart of Rice.

RR1

Featured Rice Idea From TradingView

Below is a trading comment entitled GBPUSD potential for short reversal | 11th Nov you may find interesting:

Price is near the buy entry price of 1.39989 which is 61.8% Fibonacci projection . Price can potentially go to the take profit level of 1.35080 which is 23.6% Fibonacci retracement and 61.8% Fibonacci projection . Our bullish bias is supported by the stochastic indicator asp rice is near support level .Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requireme…

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