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Mentha Oil Outlook- Retest of 1200 likely

29 Sept 2017

We exited short built around 1185 to book profit at 1145 and entered long position again at 1160 levels for a target of 1195 levels to be expected in next few days. As per our last mail we had targeted 1142 against which market bounced back from 1145 and now currently trade as 1171 levels. From here the mentha prices are looking to build up momentum for 1195-1200 levels again where we can expect selling to resume .Market will look to consolidate between 1160-1200 in the near term before giving a broader direction of the commodity.

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