Weekly

Weekly Commodity Outlook


HIGHLIGHTS:

Guarseed proved to be the dark horse among agro commodities, with over one and a half percent gains posted in an otherwise lackluster week. The highly speculative commodity got the shot in the arm on Wednesday when it gained over two percent on daily basis. The formations on daily & weekly chart have turned positive. Although, the trend line resistance is still lingering on a long pending breakout. So, traders taking long positions this week must be extra careful and should frame their positions with a proper stop loss. It is the positivity seen in momentum indicators’ positioning which is pushing for a buying strategy at least for this week.

Tags: Technical


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