Weekly

Weekly Commodity Outlook


HIGHLIGHTS:

After a relentless fall that almost lasted four months, Mentha oil January contract registered its best ever weekly close with gains nearing four percent. The highly speculative commodity found a strong buying support at lower ranges and quickly bounced back after scoring a fresh contract low on Monday. The structure on daily chart is appealing and is calling for a short term bullish reversal. On weekly chart, we can see the proceedings wrapped up into a neutral yet positive & reversal candlestick pattern called ‘Spinning Top’. Another pattern that seems to be hiding itself is the ‘Engulfing Pattern’ which, however, is not a copy book structure BUT can be comfortably defined as mentioned above since the body-to-body engulfing is perfectly at place.

Tags: Technical


Search Reports

SEARCH

Open an account

OPEN AN ACCOUNT

Reports

Daily Currency Market...

HIGHLIGHTS: The U.S. dollar...

Read More

Daily Market Update...

On the Daily Chart we are...

Read More

Daily Metal & Agro Buzz:

HIGHLIGHTS: Gold prices...

Read More

Daily Currency Market...

HIGHLIGHTS: The U.S. dollar...

Read More

Daily Market Update...

 On the Daily Chart we...

Read More

Sundaram Finance...

Company Background Sundaram...

Read More

LTTS

SHORT TERM TRADING CALL BUY...

Read More

GRUH

SHORT TERM TADING CALL: BUY...

Read More

BAJFINANCE

SHORT TERM TRADING CALL: BUY...

Read More

DELTACORP

SHORT TERM TRADING CALL BUY...

Read More

Subscribe to newsletter

Request a call back

DISCLAIMER: This document has been prepared by Arihant Capital Markets Limited (hereinafter called as Arihant) and its subsidiaries and associated companies. This document does not constitute an offer or solicitation for the purchase and sale of any financial instrument by Arihant. This document has been prepared and issued on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst meticulous care has been taken to ensure that the facts stated are accurate and opinions given are fair and reasonable, neither the analyst nor any employee of our company is in any way is responsible for its contents and nor is its accuracy or completeness guaranteed. This document is prepared for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. All recipients of this material should before dealing and or transacting in any of the products referred to in this material make their own investigation, seek appropriate professional advice. The investments discussed in this material may not be suitable for all investors. The recipient alone shall be fully responsible/are liable for any decision taken on the basis of this material. Arihant Capital Markets Ltd (including its affiliates) or its officers, directors, personnel and employees, including persons involved in the preparation or issuance of this material may; (a) from time to time, have positions in, and buy or sell or (b) be engaged in any other transaction and earn brokerage or other compensation in the financial instruments/products discussed herein or act as advisor or lender/borrower in respect of such securities/financial instruments/products or have other potential conflict of interest with respect to any recommendation and related information and opinions.