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Technical : Soya Bean Doc Indore Spot: Down Trend Still In Progress

14 Nov 2017 1:43 pm
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Dated 14/11/2017

Soya Bean Doc Indore- Last Close 22000 : Down Trend still in progress

Prices are below the averages therefore the trend is down.

Bear market is in progress as 55 VA is below 89 VA.

The last bottom of 22500 has been violated.

Expect slide to 19600-18000.

Any rise from current level or above is for lower top and lower bottom formation till averages are not crossed.

Averages are placed at 23814 and 24310..

Lower top is at 27000.

Whenever rise above 27000 is witnessed then new rally for long term may emerge but for the time being rise to averages or above it opportunity to exit long and sell.

Conclusion –

Rise till average is not crossed and till bull market does not resume objective remains to exit long and sell.

(By Commoditiescontrol Bureau; +91-22-40015516)

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