Technical: Soya Bean Indore – Support at lower level

Dated 2/01/2017

SOYA BEAN INDORE – Support at lower level

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.