Technical: Refine Soy Oil- Minor Correction/Consolidation Likely

Dated 13/2/2017

(Monthly Chart)

Resistance will be at 740. Further rise can be seen above 740 for 773.

Expect near term correction to 690 and 630 could happen before moving higher above 740.

Conclusion

Near term bias would be for correction and consolidation for rise towards 740 and 773.

Lower range of 690 and 630 could be support levels and consolidation point.

Subsequently after testing 690-630 rise could be witnessed.