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Canada Markets Blog
Cliff Jamieson Canadian Grains Analyst
Fri Apr 4, 2014 04:33 PM CDT

Despite the expectation for a huge carryout of canola this crop year and increased canola acres in 2014 (8.5% increase according to AAFC), the November canola contract continues to knock on the door of chart resistance while perhaps indicating a bullish ascending triangle chart pattern in recent trade.

As seen on the attached chart, trade over the past two weeks has seen higher lows, as indicated by the upward sloping blue trendline, while trade is confined below the flat upper line of resistance, which happens to be the red line, which is the 38.2% retracement of the move from the ...

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