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Mentha Outlook: Brief rally to 1420 expected this week

22 Jan 2018

In our last outlook we were looking for upside momentum in mentha price to pick up till the time 1480 support was intact which was a trend line support. Buying opportunity was there around 1500 mark provided 1480 support was intact but the trend line was broken and immediately the prices fell to 1250 levels.Break of 1480 was a good opportunity to sell as we expected the momentum to pick up .The mentha prices recovered a bit day back to 1300 .Technically we see some divergence in momentum indicators like RSI and would expect the prices to bounce back to 1420-1430 mark within a week .While breaking 1430 may not be easy as seen on the chart but some consolidation between 1280-1430 will be seen in the near term.

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