MCX mentha oil has started correcting from the high of Rs1,619. It has fallen from the daily upper Bollinger Band towards the 20-daily moving average. In the last week it had formed a doji at weekly upper Bollinger Band suggesting a loss of momentum on the upside. As a result, the commodity is falling. The daily momentum indicator has given a sell signal. The targets on the downside are Rs1,440 (the daily lower Bollinger Band) and Rs1,360 (the 78.6% retracement mark).

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