Technical: Soya Bean Indore- Pullback Possibility Remains

Dated 16/01/2017

SOYA BEAN INDORE – last close-2925 : Pullback Possibility Remains

Support cluster on the monthly chart is at 2600-2500.

The support cluster of 2600-2500 is created since the year 2012.

Resistance is at 3500-3600.

Resistance gap is at 3200-3500.

Pullback towards the resistance gap is likely in the near term.

Conclusion

Cover short position at current level or below till 2500 is not violated.