Commodity- Rough Rice is now breaking out of a critical Head & Shoulder (H&S) Pattern.
In this post, we will be highlighting how you can participate in the existing opportunity from Commodity- Rough Rice and get benefited financially. We are using the weekly chart for our technical analysis for Commodity- Rough Rice.
Recently Commodity- Rough Rice has consolidated near the big whole number of 10,000 price points in the last 6 months as shown in the chart. The recent swing low for Commodity- Rough Rice printed by price was at 9,869 in the week ending 22nd of Feb 2019 (week number 08). This is the right shoulder of the existing Head & Shoulder Pattern in the discussion. To the left of this swing low, the head was printed by price on 21st of Sep 2018 (week number 38) at the price level of 9,683. Commodity- Rough Rice has the left shoulder of the existing head and shoulder on 4th of Jun 2018 at the swing low price level of 10,596.
Now by definition of the head and shoulder pattern, there must be a:
- swing high between the left shoulder and the head, This swing high was found at the price level of 12,113 on the week ending 13th of Jul 2018.
- swing high between the right shoulder and the head, This swing high was found at the price level of 11,162 on the week ending 7th of Dec 2018.
- the neckline needs to be generated by joining these 2 in-between swing highs as shown in the chart below:
As you can see from the chart we have drawn two vertical lines which are of similar length. One is drawn from the low of the head to the neckline and the same is copied and pasted after price break the neckline on the week ending 8th of Mar 2019 just 2 weeks before. Now, the real questions can be:
- Is the price going to take out the high of last week’s and print a higher high with an up bar this week?
- Is Commodity- Rough Rice going to perform a “Crack & Snapback” as per the technical analysis we teach in our best Commodity Trading course or continue to go up?
- How are going to trade Commodity- Rough Rice from here so that you can capture the big move and convert it to real money, remembering 100 points move in your favour can generate $100 if you have traded $1 a point?
- How our clients are tradingCommodity- Rough Rice from here?
- What is the price target of Commodity- Rough Rice from here?
Take this big opportunity to learn how to trade Commodity- Rough Rice with us to explore the possibility of earning passive income keeping your day job. Commodity Trading can provide big opportunities if traded at the right time in the right direction.
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