The NCDEX guar seed has been trading in a range. Structurally it is forming a triangle. The 20-daily moving average and the lower end of the rising channel are there to provide support. In the time the commodity has consolidated the daily momentum indicator has cooled off. Unless the swing low of Rs11,035 is broken the view remains bullish. The break-out level on the upside is Rs12,730. The channel target is Rs15,400.

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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