NEWS
Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Tue Nov 19, 2013 04:45 PM CST

The oat market is perhaps showing its true colors today, with a break above resistance and a strong technical close near the upper end of its 10 1/2-cent trading range in today's session, ending at $3.54 1/2 per bushel, up 10 1/2 cents/bu.

Resistance broken this session includes:

-- the $3.46/bu. double top reached on Nov. 6 and 7

-- the October high of $3.48 1/4/bu.

-- the 50% retracement of the move from the June high to the September low at $3.47 1/2/bu., and

-- the downward-sloping trendline drawn from the August high which makes up the upper-boundary of ...

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