The commodity Guarseed future contract for April traded completely on higher prices on yesterday’s trading session. In the commodity after making a low of 2702 then high of 2760 it settled higher at 2759 levels. The closing of Candle stick suggesting upside movements.
On the higher side crucial resistance is seen at 2775 levels. On breach and sustained trade above is likely to trade higher.
The commodity market trend, if fails to breach the resistance at 2775 levels it is possible to resume its downtrend. RSI (14) daily ended at 0.396 levels and suggests indecisiveness.
We expect prices to remain higher and recommend buying at the support levels.
The person who would like to buy April contract they can at Target Price of 2743, 2785 and put the Stop Loss of 2720.
On the higher side crucial resistance is seen at 2775 levels. On breach and sustained trade above is likely to trade higher.
The commodity market trend, if fails to breach the resistance at 2775 levels it is possible to resume its downtrend. RSI (14) daily ended at 0.396 levels and suggests indecisiveness.
We expect prices to remain higher and recommend buying at the support levels.
The person who would like to buy April contract they can at Target Price of 2743, 2785 and put the Stop Loss of 2720.
