Commodity Trading Tips for Ref Soya Oil by KediaCommodity

Ref Soyaoil yesterday traded with the positive node and settled 0.53% up at 621.8 as speculators enlarged their positions on the back of rising spot demand. Indian traders and investors are likely to buy futures anticipating revival in demand for oil in near term. At the Indore spot market soyoil edged up by 1.6 rupee to 611.85 rupees 10 kgs. In yesterday's trading session Ref Soyaoil has touched the low of 620 after opening at 620.8, and finally settled at 621.8. For today's session market is looking to take support at 619.3, a break below could see a test of 616.7 and where as resistance is now likely to be seen at 625.1, a move above could see prices testing 628.3.

Trading Ideas:

Ref soyaoil trading range is 616.8-628.4.

Ref Soyaoil yesterday traded with the positive node on the back of rising spot demand

Ref Soya oil looks to take support at 619.30 level

Ref Soya oil having resistance at 625.10 level

At the Indore spot market soyoil edged up by 1.6 rupee to 611.85 rupees 10 kgs.

(Source: http://www.topnews.in/commodity-trading-tips-ref-soya-oil-kediacommodity-2321527)