Technical: Soya Oil Indore- Correction before a rally is likely

Dated 23/05/2019

Soya Oil Indore- Last Close-: 758 : Correction before a rally is likely

The view mentioned in last update remains the same.

Correction is likely to test the retracement levels of 715-693-673 unless immediate breakout above 784 is witnessed.

Correction can resume on fall and close below 730.

Breakout above 790 is essential.

Conclusion

Accumulate at retracement level of 715-693-673 as the opportunity arises in near term.

Momentum is above 790 closing.