NEWS
Canada Markets
Cliff Jamieson Canadian Grains Analyst
Fri Dec 19, 2014 04:23 PM CST

DTN's Five-Year Seasonal Chart suggests that canola prices have moved sideways in December on average over the past five years. That's exactly what we've seen this week with a weekly gain of $.90/mt as canola has traded sideways this week while continuing to knock on the door of chart resistance at $438.80/mt.

This resistance level is the 33% retracement of the move from the April high of $513.80/mt to the September low of $401.80/mt. This price level has resulted in troublesome technical resistance for the March price, which tested and failed to move above this resistance on Oct. 31, Nov. ...

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