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Guar Seed Double Bottom formation



From the below chart of Guar Seed (Daily continuous contract), after falling from the top of 4288 prices started forming a basing formation particularly known as double bottom. However, it is important for prices to move above the intervening peak placed at 3862 which will give confirmation. A move above 3862 will open further positive possibilities which can take prices higher till 4140 levels. Break of the bottom which is 3580 will negate the pattern. Momentum indicator RSI is positively poised and it is above the center line.

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