NCDEX pepper was trading near the lower end of the medium-term rising channel. The weekly lower Bollinger Band provided support to the agri commodity and push it up. The price has crossed the 40-Weekly Exponential Moving Average (Rs31,500) and the 20-weekly moving average (Rs33,500). The weekly momentum indicator has triggered a bullish crossover. Hence pepper seems to have started a new move on the upside. Unless it breaks the 20-weekly moving average on a closing basis the channel targets are Rs40,900 and Rs45,900.