Agri-Commodity Update 19th February -2020

Agri-Commodity Update 19th February -2020


Fundamental Aspect:

Soybean prices reversed from the bottom levels in today's session after it slipped to bottom levels again in the last trading sessions as the traders had cut down their positions on weak spot demand. While the ample stock of Soy refined in the market is weighing down on the prices of Oil as well.

Technical Aspect

CPO (February)

CPO has its support at 706 and resistance 720.

Break and close below 706 will see a fall till 690---680 levels or else it can touch its resistance level of 720 again.

Fresh buying can be done on a close above 720 levels.

Trade with levels only.

Soybean (March)

Soybean has its support at 3830 and resistance 3910.

Break and sustain above 3910 will see a rise till 4000---4100 levels or else it can touch its support level of 3830 again.

Fresh selling can be done only a close below 3830.

Trade with levels only.

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Read more about our agri levels


Tags:Agri Commodity

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