Pepper ends up on active buying

The pepper futures traded positive on Saturday extending the previous rally. Futures started the day on positive note on strong buying interest. Exporters are actively buying at spot market mid expectations of exports inquires.
However, prices reversed the trend on profit booking at higher levels but overall bullish sentiments supported the prices and futures ended on positive note.
Outlook

The pepper April futures are projected to continue the positive trend initially on Monday. Active buying interest might support the prices. However, prices are likely to witness decent corrections on profit booking. International market is also showing an upward move which might support the prices at lower levels.
Prices quoted by India in international market moved up to $5400-5425 per ton as Indian rupee appreciated against dollar thus, prices remained competitive in international market.
Vietnam and Indonesia are also quoting higher prices. Vietnamese 500 g/l is quoting available at $4950 and Indonesian Lampong ASTA is at $5250 per mt.
News of China is buying good amount from Vietnam and demand from US is supporting the prices in International market.
At prevailing prices in spot exporters bought good amount of pepper which turned the sentiments towards bullish side.
According to derivative analysis, prices are rising while volumes and open interest are falling. Market is running out of traders willing to open or hold an open long/buy.
Traders are liquidating both loosing short positions & closing winning long positions. A higher probability the market is set to retrace in price lower at some point.

(Source: http://www.commodityonline.com/futures-trading/technical/Pepper-ends-up-on-active-buying-22833.html)