Cup & Handle Pattern Breakout Seen in Guar GumHello Guy's, i have brought analysis for Commodity lovers on Guar Gum. Chart is clearly showing a Cup and Handle breakout on daily timeframe and it is supported by rising volume. MACD is sustaining above zero line and has formed a bullish crossover. All these observations are seen in the daily timeframe chart. A long trade can be taken in this Guar Gum for healthy upside. Well i have written everything on chart, but still writing here.
Important levels in Guar Gum:-
Buy between in the range of 13300-13000 levels.
Targets we can see in upside 14078/15166/15836.
Keep stop loss at 12538.
Bullish Crossover in MACD supports the bullish view.
So, Guy's according to Price action and MACD bullish crossover, a rally is expected towards 15000+ levels. So trade accordingly.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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Thankyou.
