AHMEDABAD (Commodity Online): Soy oil Prices at NCDEX, February contract continues bottom levels buying in today's trading session and trades up.
It is trading in the range of 696-702.50 per 10 k.g in today's trading session till now.
Recovery in Us Dollar price from last couple of trading sessions also support the up trend in today's trading session.
Soy oil Prices at NCDEX, February contract is having resistance of 713 from current level and trading above that it likely to touch 735 level.
Short term support for the Soy oil prices at NCDEX, February contract is at 685 level.
Technically, 14 days RSI on Daily chart at 52 indicates some downside.
Volume also support the up trend of Soy oil price.
‘’Traders should look for the opportunity to buy at lower levels, said Milan Shah, Commodity Analyst with Commodity Online.
To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com
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