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Mentha Oil Outlook- Break of 1205-1210 opens door for 1240-1280 region

06 Oct 2017

We got stopped out at 1212 in last trade and reversed to long position again in the mentha prices .As shared previously we had warned that 1205 is a very crucial resistance and it may not be a bad level to sell but with a tight SL at 1212 because if 1205 break it will confirm that the trend from 860 to 1220 is not over yet and market will look to target 1240-1280 mark atleast in the near term hence we shifted our position to long ( new readers may scroll down to read our previous view) .Now support has shifted to 1195-1215 levels and any dip mentha can be bought for the target of 1240 either today or in next few days and probably 1275-1285 mark also in coming weeks.Keep buying on dips.Range for the day is 1215-1240.

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