There is a buying opportunity seen in the commodity at the lower level. The commodity corrected from 10744 zone making a hammer at the top, the commodity recently took support at the 200 EMA and made a harami pattern at the lower level of the BB and the EMA.

Harami is a reversal candlestick pattern which has a good back test ratio and failure rate is less comparatively to other candlestick patterns.

We can expect the commodity pair to retrace to 0.318 level and higher, if the commodity closes above 0.618 level then we can say that the trend has reversed back to upside till the time this would be a retracement move.

The RSI took support at the lower level and its following the price.

Buy

Aug 21 2021

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