Technical: Refine Soy Oil- Correction is in progress

Dated 28/03/2017

Soya Oil Indore- Last close-650: Correction is in progress

Monthly Chart

Correction was expected as per the last update and the same is in progress now.

Expect Soya Oil to correct down to 610 at least and may extend to 533.

Resistance will be at 665-675.

Reversal will happen on rise and close above 675 for a pullback of the fall from recent high.

Conclusion

Correction to 610 and 533 is likely.