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Canola Technicals

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    #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?
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    #2
    I reached my level of resistance today. I couldn't resist pricing the last of my canola.

    Comment

      #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

        #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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