Technical: Black Pepper Garbled Kochi Spot: Down Trend Continues

Dated 9/09/2017

Black Pepper- Garbled- Kochi- last close-452 – Down Trend continues



Down trend and bear market is in progress. The prices are below the long term averages and 55 VA is below 89 VA.

At current state prices are in complete bear control which means supply in physical leading to lower and falling prices.

Positive divergence is being witnessed on MACD but any minor reversal may be a pullback which may test the averages which are at 504 and 550 from current price of 452.

At current juncture price reversal is not yet being witnessed.

Further weakness will continue if 447 is violated on closing.

Conclusion
Down Trend continues within the bear market