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Jeera Facing the resistance


From the below chart of Jeera (Daily continuous contract), prices gave a bearish break in the Bollinger band last week. Prices then re-entered the band but faced the resistance of the moving average placed at 19500. Sustainable move below 19500 will drag prices lower in near term and can break the level of 18830 and test the level of 17500 levels. Momentum indicator RSI have relieved from the oversold zone.
 
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Shubhlaxmi Harish

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