Potential ascending triangle being formed in the commodity. Given the long time on the hourly charts this can take the commodity to the previous months highs. Worth going long with the stops just below the nearest low.
Trade active:
It is up more than 6% since posting this. It looks like the 2.75 target is on the way. In the Indian markets in MCX it is already at 209. There is every chance that this goes to 220 before any type of retracement kicks in.
Trade closed manually:
Exited all positions now.