MENTHA OIL FUTURE ANALYSIS 1 day timeframeit create a symmetric triangle in day and weekly timeframe. We will wait for breakout or breakdown.
Crucial level is 905.6-911.80
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MenthaOil Analysis weekly before looking into daily or intradayOm Namah Shivay, where is Menta oil headed? By looking at recent movement, we were expecting a change in pattern, after 23-7-23 week. It is completing one pattern on that day. It can be treated as channel or a zone for correction in both time and price.
Before we go and trade for intraday, we need
Will Mentha Oil Touch 960 Level Again?MCX Mentha oil can bounce here. It can retest the 960 . The intraday & short-term investors should enter around the support trendline for the targets of 926 - 936 - 958 .
Further information I will update you soon.
MCX Mentha oil - Ascending Triangle Pattern FormationMCX Mentha oil can try to collapse up to the support line before hitting the following targets: 986 - 1000 - 1020
Attention: don't buy below the support trendline.
This MCX Mentha oil research is based on the Feb 24 article. Click the below link to read it:
UPDATE: MCX Mentha Oil Overall Outlook Is 'Strongly Bullish'MCX Mentha Oil Overall Outlook Is ‘Strongly Bullish’
How many of you bought Mentha oil after reading this report?
Mentha oil made a high of 964.9 yesterday, and the first target has come.
Approx. Profit /L = Rs.15,000+
The short-term investors can book profit here. As I mentioned in the above c
MCX Mentha Oil Overall Outlook Is 'Strongly Bullish'First, wait for a clear Ascending triangle form. Right now, MCX Mentha oil at the support trendline (rising lower trendline). It will try to hit 964 - 986 - 1000 - 1020 levels from here. Intraday traders can go with the current trend.
But don't buy below the support trendline.
Does MCX Mentha Oil Begin to Move Upwards?Here's the daily chart of the MCX mentha oil. Right now, it's moving between the Dynamic resistance and support trendline. It's trying to cross the Moving average. If consecutive candles cross the moving average downside, it will hit the support trendline by crossing 956 - 946 .
But RSI crossing i
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Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
The nearest expiration date for Mentha Oil Futures is Nov 29, 2024.
Traders prefer to sell futures contracts when they've already made money on the investment, but still have plenty of time left before the expiration date. Thus, many consider it a good option to sell Mentha Oil Futures before Nov 29, 2024.
Open interest is the number of contracts held by traders in active positions — they're not closed or expired. For Mentha Oil Futures this number is 197.00. You can use it to track a prevailing market trend and adjust your own strategy: declining open interest for Mentha Oil Futures shows that traders are closing their positions, which means a weakening trend.
Buying or selling futures contracts depends on many factors: season, underlying commodity, your own trading strategy. So mostly it's up to you, but if you look for some certain calculations to take into account, you can study technical analysis for Mentha Oil Futures. Today its technical rating is strong sell, but remember that market conditions change all the time, so it's always crucial to do your own research. See more of Mentha Oil Futures technicals for a more comprehensive analysis.