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Home » Soybean trading lower on weak demand. Major Agri Commodity levels for the day.
Agri Commodity

Soybean trading lower on weak demand. Major Agri Commodity levels for the day.

Soybean Support Level

 

Traders cut their deals due to weak spot demand. However, we saw a bounce back in the June contract of Soybean from the support levels of 3700, a revival in price can be expected if it will manage to trade above the support price.

 

Support and Resistance levels of Soybean and other Major Agri Commodities

Soybean (June)

Soybean has its support at 3750 and it just broke its major resistance level of 3830

If it will manage to break and sustain above 3830, then we will see a rise till 3920—3990 levels, or else it can touch its support level of 3750 again.

We can go for fresh selling only on a close below 3750.

Trade with levels only.

 

CPO (May)

CPO has its support at 640 and the immediate resistance is seen at 655.

If it will manage to give a close above 655, then we will see a rise till 669—685 levels or else it can touch its support level of 640 again.

Buy it on dips!

Trade with levels only.

 

Cocucakl (June)

Cocudakl has its support at 1930 and resistance 2010.

Break and sustain above 2010 will see a continuous rise till 2090—2150 levels or else it can touch its support level of 1930 again.

Buy it on dips!

Trade with levels only.

 

Guar seed (June)

Guar seed has its support at 3510 and resistance is seen at 3590.

Break and sustain above 3590 will see a rise till 3650—3710 levels or else it can touch its support level of 3510 again.

If it close below 3510 then we can do fresh selling in it.

Trade with levels only.

 

Chana (June)

Chana has its support at 4030 and immediate resistance is 4130.

Break and sustain below 4030 will see a fall till 3950—3880 or else it can touch its resistance level of 4130 again.

We can go for fresh buying only on a close above 4130.

 

Rmseed (June)

 

Resistance is at 4500 while support is at 4430. 

Break and sustain above 4500 will take it to 4560—4610 levels or else it can touch its support level of 4430 again.

If it will manage to break and give a close below 4430, we can expect a correction in it.

Trade with levels only.

 

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