Cardamom MCX getting ready to resume up trend

As we can see here CARDAMOM MCX next (AUG) contract moving in a rectangle after a rally from 606 to 1397 and respecting an ascending trend on daily chart. 14 Period RSI taking support at 50 and moving upside, MACD has already given bullish cross and trying to climb zero line supporting our bullish expectations for short term. Bearish crossover seen on moving average but stability above 1275 zones may neglect these bearish developments.

Supports: 1200/1165/1100

Resistance: 1400/1500/1700

Recommendation: buying between 1240-1200 for targeting 1400-1500-1700 with stop loss of 1160 on daily closing basis might be appropriate.

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