Kabuli Chickpeas 9mm

Kabuli chickpeas today.

Desi chickpeas, next week

The long-term chart below dates back to 1999 and illustrates the volatility of Kabuli chickpea prices.

We can see detailed recent price action on a short timeframe.

I use Fibonacci Retracements and Extensions to analyze most charts.

Using the 2017 high and 2019 low as my start and endpoints, I annotate the green and red fib levels.

The price is currently testing the 0.786 fib level at 56.

A daily or weekly close under 53 is a sell signal for me and a logical place for a producer to exit full or partial positions.

I have identified levels of interest at 48 and 42 that may act as support and reverse the price.

I provide the bullish and bearish levels of interest from my Fibonacci calculations and support and resistance levels below.

To summarize, I am Bullish above 53 and Bearish below.

BULLISH LEVELS OF INTEREST

(Take partial or full Profits)

1. 66

2. 77

3. 84

4. 95

BEARISH LEVELS OF INTEREST

(Long entry or possible support level)

1. 53

2. 48

3. 42

This report will likely be updated in the coming weeks following new price data which could have an impact on the bearish levels of interest.

I hope you enjoy this analysis, and I am interested in any feedback you can provide.