Canola’s Uptrend Remains in Place

Canola prices continue to rise, breaking through weekly resistance at the Bollinger band high which is 2-standard deviations above the 20-week moving average at 39.50.This is seen as short term support.  Additional support is seen near the 20-week moving average at 37.25. Resistance on a weekly basis is seen near the November highs at 43.  The Bollinger bands are diverging as the market breaks higher which reflects…