Dated 20/08/2018
Black Pepper-Garbled Kochi- Last Close- 373- Reversal Attempts Likely
Trend is down as prices are below the averages.
The 55 VA is below 89 VA indicating a bear market.
The 55 VA and 89 VA are likely to offer resistances which are placed at 367 and 377.
The averages also likely to offer resistance as it try to pullback towards it.
A breakout and close above 378 on sustained basis can set a rise towards 425.
Conclusion
An attempt of reversal is likely with immediate resistance at averages.
Accumulate if up trend resumes.
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