Following the completion of a recent corrective phase, the present price levels are exhibiting indications of stabilization close to the 50-hour moving average. Within the region of 5,580–5,550, which coincides with the 200-hour moving average, a strong foundation can be seen. Inside the current market environment, we have identified immediate resistance inside the region of 5,730–5,760, which effectively inhibits the short-term rising trajectory. The Relative Strength Index indicates that the market is in a balanced position, indicating that the forces of buying and selling are in a condition of equilibrium.

It appears that the MACD has made a slight bullish crossover, which indicates that there are limited opportunities for a momentum rebound.  Guarseed futures are currently exhibiting a confined trading range on the hourly chart, which is the result of a phase of correction from their recent highs. This presents an opportunity for investors to profit from the market. Both the 50-hour and the 200-hour moving averages are in agreement with the current price levels, which indicates that the market is currently in a phase of stabilization and experiencing fewer swings. A strong support level is provided by the 200-hour average, which is located close to 5,580. This level acts as a cushion against any potential downward swings that may occur at this time.

In the event that selling pressure increases, a more major support level is built close to 5,350. Although immediate support is found at approximately 5,550, this level is not considered to be significant. A favorable development is that resistance has been built around 5,730, and this is followed by a more formidable obstacle at around 5,975, which is the location where sales pressure has been observed in the past.