Dated 16/1/2017
Soya Oil Indore- Last close-732:
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Expect Soya Oil prices to test the last peak of 773 in near term with volatility.
Further rally can continue if sustained breakout and close above 773 is witnessed.
Subsequently, Soya Oil prices can scale up to 888-903.
Support for near term is at 715-690-692.
A fall and close below 670 can terminate the Wave c and larger degree Wave (b) will be confirmed.
Conclusion
Near term bias is up for higher range with volatility.
As long as 670 is not violated higher prices can be expected.
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