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Canola Technicals

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  • crusher
    Senior Member
    • Jun 2001
    • 1188
    #1

    Canola Technicals

    My charts show we are coming up to lots of technical resistance. Does anyone have thoughts on the next level of resistance if/once we get through at this level?
    Tags: None
    • grrrr
      Senior Member
      • Jan 2004
      • 430
      #2
      I reached my level of resistance today. I couldn't resist pricing the last of my canola.

        Comment

        • errolanderson
          Senior Member
          • Jan 2012
          • 3127
          #3
          May canola has significant resistance at
          $555/MT in my view. Virtually there . .

          We might have seen the canola high today
          as Greece, Italy and Portugal may be out
          of the Euro zone before year end.

          Strap in . . . there's market turbulence
          ahead

          Errol

            Comment

            • errolanderson
              Senior Member
              • Jan 2012
              • 3127
              #4
              Of note (Feb 28th), there's a gap on the chart for May canola that fills around $580/MT. Current market rally may strive to fill that gap.

              Maybe higher from there, but futures appears to be getting quite technically overbought.

              Errol

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