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Vegetable Oils Bulletin

Bob Lane | 06.19.2017 | Jacobsen

Canola Forms a Bottom as Momentum Turns Positive

Canola prices are attempting to form a bottom, hovering near support near the bollinger band low, which is two-standard deviations below the 20-week moving average at 36.50. Resistance is seen near the 20-week moving average at 38. The bollinger bands, are converging which is a reflecting of declining historical volatility, which usually reflects consolidation.

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Vegetable Oils Bulletin

Canola Forms a Bottom as Momentum Turns Positive

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