The Commodity is making new highs whenever there is retracement seen. The Commodity has been following the bollinger band very well for a long time. The commodity tested the 2nd sd i.e. upper band of the BB and corrected to the SMA, after the commodity touched the SMA, next day the commodity closed above the previous candle and the candle has closed above the high of previous candle suggesting buyers are getting aggressive.

If the commodity today closes above the SMA we can expect the commodity to move high and again retrace the upper band and trade high. It's one of the best techniques of trading Bollinger Bands.

The commodity is trading above the ICHIMOKU CLOUD, supporting the move and indicating that the uptrend is intact.

If the commodity closes above 2620 we can expect MACD to make high and trade above 35.

Advice : Buy if the candle close above the SMA

Buying Opportunity

Aug 12 2021