AHMEDABAD (Commodity Online): Soy oil Prices at NCDEX, December contract saw some volatile movement in today's trading session but trades up due to some fresh buying.
It is trading in the range of 637.50-643 in today's trading session and still expected to trade up side.
Better Soybean crop prospects in Latin American countries likely to kept prices under pressure.
Strong upside in Crude prices likely to support the positive movement of Soy oil in near term.
Soy oil Prices at NCDEX, December contract expected to test the resistance of 649 from current level.
Technically, 14 days RSI on Daily chart at 60 indicates upside trend in near future.
‘’Intraday traders can look for the opportunity to buy at lower levels”, said Milan Shah, Commodity Analyst with Commodity Online.
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