Jeera has fallen below the 20-weekly moving average (WMA; Rs14,558) and the 40-weekly exponential moving average (WEMA; Rs14,763), which are now acting as resistances. Jeera is falling down as a follow-through of a bearish outside bar that was formed on the weekly chart. The weekly momentum indicator is also showing weakness. It has triggered a bearish crossover. Unless the high of Rs15,010 is crossed the agri commodity is likely to fall towards Rs13,400 (the rising trendline). Whether Rs13,400 holds will decide the future course of action for jeera.
