The Commodity has formed an CUP and Handle Pattern on Hourly time frame, a breakout on the downside will be an opportunity to enter short in the commodity.

The Commodity is trading below the Fast and SLow EMA indicating a negative trend, Fast EMA has crossed Slow EMA indicating negative trend, the EMA trend is negative conforming the downtrend.

DI- trading abive DI+ indicates negative trend, ADX trading above 20 will indicate strength to the move.

RSI has given a breakout indicating a negative trend.

Cup And Handle

May 16 2023