Canola Prices Consolidate Above Support Levels

Canola prices continued to retrace it’s early 2016 gains falling to the lows last seen in early March near 33.50.  Prices appear to be in a steady downtrend as momentum gains traction on a daily basis.  Resistance on canola is seen near the 20-day moving average at 35.5.  The daily Bollinger bands are widening which shows that historical volatility is picking up. 

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