From the below chart of Mentha Oil (Daily continuous contract), prices broke all the short term supports and closed below the 20 EMA (blue) moving average. The bearish breakout was given on Monday in ascending triangle formation.The bias is firmly negative as prices can drag further lower till 1150 levels followed by 1135. Momentum Indicator RSI has exhibited negative divergence (marked with red line), giving an indication that positive momentum is slowing down.
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