Soyabean futures likely to trade bearish in short term

Tag : Soyabean


While commenting on Soybean July futures, Dharmesh Bhatia, technical analyst, kotak Commodities said that after the rally to Rs 2,710, which now emerges as astrong and significant resistance, the prices are not able tosustain those levels.

This is indicated by low volumes and the RSI which is giving anegative divergence. Hence it is advisable to take short positionat the current levels of Rs 2,662 with the target of Rs 2,585keeping stop loss at above Rs 2,710, he said.