Daily

Weekly Commodity Outlook


HIGHLIGHTS:

The unprecedented run of the Mentha oil Juggernaut may face hurdles this week as lower time frame charts are pointing towards an undercurrent that seems to be consolidating itself, only to explode at the right time. And the right time may be very near. This despite the fact that the highly speculative export based commodity posted gigantic gains of almost ten percent last week. Thus, the warning signs bear more importance and needs to be studied. Momentum indicators are continuously hinting a much needed healthy correction whereas low participation amid mounting margin & compliance needs at broker level are the reasons behind suffocating volumes which confirms a ‘tired bull’ situation in the making.

Tags: Technical


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