The commodity is trading above its 50 EMA and 200 EMA where it has made higher highs higher low suggesting uptrend.

Recently we are seeing a shortfall in the commodity which is suggesting a breakout on the upside.

A wedge is forming but I haven't seen any climax before the formation so will ignore the formation and better see it as a rising resistance and rising support line.

The RSI has a strong Resistance (marked as black) if the rsi closes above the black chances of rsi supporting the move increases.

Macd is showing a crossover; it's a good sign.

The commodity is trading above the Ichimoku cloud as well.

Advice : Buy only if the closing is above the Resistance line

Buying Opportunity

Jul 18 2021

6