Oats Price Bias Is Still Bullish

The #C-OATS price forecast in our May 8, 2020 technical analysis was bullish.

Market data after #C-OATS,Daily May 8, 2020 technical analysis still indicate bullish bias.

• #C-OATS,Daily closed 0.3% higher over day on May 8, 2020 and is still gaining.
• On downside risk, cocoa inventories rebounded to a 9-1/2 month high of 4.346 million bags last Friday from December's 3-1/4 year low of 2.688 mln bagsDemand for oats product was augmented by global outbreak of coronavirus, according to a study by 3rd Watch market Reports and Analytics..

Here is what indicators show as of May 11, 2020:

• The Parabolic Indicator gives a bullish signal.
• The Donchian channel indicates no trend: it is flat.
• The MACD indicator gives a bullish signal.
• The RSI oscillator gives a neutral signal.
• The Fractals give bullish signal.
• The MA(200) Indicator gives a bullish signal.

So the bullish forecast still stands for the #C-OATS,Daily.