Bear market tightens its grip on rice

In technical analysis, price fluctuation in a range is referred to as 'market consolidation' and the range is referred to as a 'consolidation zone.' According to market pundits, if the market breaks through the consolidation zone, prices can be expected to move away significantly. If the breakout happens on the downside, then the price can drop markedly to a low level and vice versa. This is known as a breakout from consolidation. The fundamental factors in the market also point to lower prices. Undoubtedly, the market now has an excess supply of rice. The Thai mortgage scheme, which has been in operation since September 2011, has resulted in a large accumulation of public stocks in Thailand.

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