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Soya Bean Head and Shoulder pattern


From the below chart of Soya Bean (Daily continuous contract), prices gave a bearish break after breaking the neckline of the Head and Shoulder pattern. The bias is firmly negative prices can further slip till 2850- 2830 levels. The support zone of 2850-2830 is the target of the pattern. The trend will only change if prices manage to move above 3150 which is the high of the right shoulder. However, RSI is at 30 where the oversold zone starts.
 
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