![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjOyVGexce0XaHFtzgvWsuNYqtWNl8b2x1EIBSXuIjGKTyyuzi09my-wwc6yLruOQo0p4l3J1FJRDueXN_9SqelaNj-6dX9ESmtO2uX68eIJ-vhZ2ZOYnplM9cpgewukQb0wi0N4V4SkXOt/s1600/soybean.jpg)
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For several weeks NCDEX soybean was oscillating about the key DMAs. In terms of price patterns, the agri-commodity formed a triangular pattern, which broke out on the upside. Since the breakout the commodity has been marching towards north. It consolidated near the previous high of Rs4,121 and 78.6% retracement mark for few days and started moving higher. The commodity is moving up in a channelised manner. The subsequent levels on the upside will be Rs 4,412 and Rs 4,560. The level of Rs 4,121 will act as a crucial support on a closing basis