Today Pepper Outlook(18marc): Angel Commodities
Published on Thursday, March 18th, 2010 at 2:58 PMAuthor: onlinecommoditycalls (1958 Articles)
Fundamental Analysis
Pepper prices are quoting at lower levels. Fresh buying from the domestic buyers may be initiated in the short term.
Demand from the overseas buyers is silent over a couple of days. Buyers are waiting in anticipation that the pepper prices in the international market may ease further due to fresh pepper arrivals from Vietnam. This may pressurize the prices in the short term.
In the medium to long term (April onwards) prices may depend on the pepper stocks in Indonesia and Brazil. Demand from the overseas and domestic market, clear production estimates of Vietnam.
Technical Analysis
The 14-Day RSI is at 62.8 and is trading in sideways to up manner.
Prices closed above its 10-Day and its 20-Day EMA indicating upward trend.
Outlook:
Pepper prices in the intraday may trade in sideways to up manner due to buying by the domestic stockists. In the short term (till March) Pepper prices may be determined by demand from the domestic and overseas buyers and fresh pepper arrivals in Vietnam. In the medium to long term (April onwards) prices may be determined by the demand from the overseas and domestic market, pepper production in Vietnam, pepper price parity of the major origins such as Brazil, Indonesia, India and Vietnam.
Courtesy: Angel Commodities
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