Soybean falls on selling pressure

Soyabean yesterday we have seen that market has moved -0.51% witnessing some selling, the prices made some recovery in passing week on the back of short covering and fresh buying support, also some improvement was seen in the international markets.
China's soybean imports in February were declined by 21% to 2.32 million metric tons. Customs also mentioned that the total imports in the first two months of the year increased 6.1% to 7.45 million tons.
At the Indore spot market in top producer MP, soybean gained 4 Rs to 2325Re 100 kgs. Market has opened at 2367.5 & made a low of 2354 versus the day high of 2380. The total volume for the day was at 61460 lots and the open interest was at 189160.
Support for soyabean is at 2352 below that could see a test of 2340. Resistance is now seen at 2378 above that could see a resistance of 2392.
Trading Ideas:
Soyabean trading range is 2340-2392.
Soyabean yesterday ended down witnessing some selling pressure
Soyabean is taking resistance at 2378 and support is seen at 2352.
China's soybean imports in February were declined by 21% to 2.32 million metric tons.
At the Indore spot market in top producer MP, soybean gained 4 Rs to 2325Re 100 kgs.

(Source: http://www.commodityonline.com/futures-trading/tradingtips/Soybean-falls-on-selling-pressure-12152.html)