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OATS Technical Analysis - OATS Trading: 2023-06-12
Oats Technical Analysis Summary
Above 368
Buy Stop
Below 318
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Neutral |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
Oats Chart Analysis
Oats Technical Analysis
On the daily timeframe, OATS: D1 is moving towards the upper boundary of a descending trend. Before opening a position, it should break out above this trendline. Several technical analysis indicators have generated signals for further upward movement. We do not exclude a bullish movement if OATS: D1 rises above its last maximum at 368. This level can be used as an entry point. The initial risk limit could be set below the Parabolic signal, the two most recent fractal lows, and the lower Bollinger Band line, around 318. After opening a pending order, we adjust the stop loss following the signals of the Bollinger Bands and Parabolic to the next fractal minimum. This way, we improve the potential profit/loss ratio in our favor. More cautious traders can switch to the four-hour chart after entering the trade and set a stop loss, adjusting it in the direction of the movement. If the price surpasses the stop level (318) without activating the order (368), it is recommended to cancel the order: there are internal changes happening in the market that were not taken into account.
Fundamental Analysis of Commodities - Oats
The United States Department of Agriculture (USDA) expects a reduction in global oat crop yield. Will the OATS quotes increase?
According to the USDA forecast, the global oat crop for the 2023/2024 season is projected to be 23.3 million tones. This represents a 9.1% decrease compared to the preliminary data for the 2022/2023 season. The main decline in oat production is expected in Canada, with a decrease from 5.23 million tones to 3.65 million tones, representing a decline of over 30% y/y. This could be attributed to a reduction in cultivated area by approximately 26.5% and a slight decrease in yield. It is worth noting that the European Union is the largest global oat producer, with a projected crop of 7.4 million tones for the 2023/2024 season. This is only a 3% decrease compared to the 2022/2023 season. Drought is a possibility in several European countries, which could potentially harm the crops.
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