EPIC RESEARCH NCDEX MENTHAOIL UPDATE OF 19 JULY 2016

Mentha oil had retraced 61.8% of the Feb-March fall. It formed a distribution over there & entered correction mode. The fall unfolded in a channelised manner till the end of last month. However, recently the price has broken out from upper end of the channel. On the way up it has crossed a medium term falling trendline. The short term momentum indicators are in favor of the bulls. Thus, Mentha oil is likely to continue with the rally.

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